Oppenheimer Asset Management Inc. Takes Position in Waste Connections, Inc. $WCN

Oppenheimer Asset Management Inc. purchased a new stake in Waste Connections, Inc. (NYSE:WCN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 74,377 shares of the business services provider’s stock, valued at approximately $12,398,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WCN. Nicholas Company Inc. grew its stake in shares of Waste Connections by 32.4% during the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock valued at $78,756,000 after purchasing an additional 109,950 shares during the last quarter. Rathbones Group PLC increased its holdings in shares of Waste Connections by 1.2% in the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider’s stock valued at $117,394,000 after purchasing an additional 7,866 shares in the last quarter. Mirabaud Asset Management Ltd raised its position in Waste Connections by 28.9% in the 4th quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider’s stock worth $10,754,000 after purchasing an additional 12,680 shares during the last quarter. Everstar Asset Management LLC bought a new position in Waste Connections in the 4th quarter worth approximately $2,100,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in Waste Connections during the 4th quarter worth $646,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WCN shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. UBS Group restated a “neutral” rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. JPMorgan Chase & Co. cut their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Barclays raised their price target on Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.89.

Waste Connections Price Performance

Shares of WCN stock opened at $166.22 on Friday. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $188.75. The stock has a market cap of $41.82 billion, a PE ratio of 40.05, a PEG ratio of 2.84 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The firm’s 50 day moving average price is $165.41 and its two-hundred day moving average price is $163.21.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 EPS. As a group, analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s payout ratio is 33.73%.

Insider Buying and Selling

In related news, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the sale, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert Michael Cloninger sold 2,811 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. The trade was a 19.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,811 shares of company stock valued at $1,887,572 over the last three months. Company insiders own 0.27% of the company’s stock.

Waste Connections Company Profile

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.