Waste Connections, Inc. $WCN Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its stake in Waste Connections, Inc. (NYSE:WCN) by 49.1% in the first quarter, HoldingsChannel.com reports. The firm owned 227,289 shares of the business services provider’s stock after acquiring an additional 74,871 shares during the quarter. iA Global Asset Management Inc.’s holdings in Waste Connections were worth $36,921,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. City Holding Co. purchased a new position in Waste Connections in the fourth quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the 3rd quarter worth approximately $26,000. Transamerica Financial Advisors LLC boosted its stake in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Waste Connections in the 3rd quarter worth approximately $30,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Waste Connections in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Down 0.2%

Shares of Waste Connections stock opened at $166.83 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91. The company has a market capitalization of $42.33 billion, a P/E ratio of 40.69, a P/E/G ratio of 2.97 and a beta of 0.51. The business has a 50 day moving average price of $157.11 and a 200 day moving average price of $163.98.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 EPS. Sell-side analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s dividend payout ratio (DPR) is currently 34.15%.

Insider Transactions at Waste Connections

In other news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. This represents a 19.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the transaction, the senior vice president directly owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. This represents a 31.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,605 shares of company stock worth $2,822,923 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

WCN has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. BMO Capital Markets restated an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, Wolfe Research assumed coverage on Waste Connections in a research note on Friday, March 13th. They set an “outperform” rating and a $199.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.84.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.