Cibc World Market Inc. Has $358.65 Million Stock Position in Waste Connections, Inc. $WCN

Cibc World Market Inc. raised its position in Waste Connections, Inc. (NYSE:WCN) by 11.7% in the fourth quarter, HoldingsChannel reports. The fund owned 2,044,769 shares of the business services provider’s stock after purchasing an additional 214,176 shares during the quarter. Cibc World Market Inc.’s holdings in Waste Connections were worth $358,652,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management grew its stake in Waste Connections by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock valued at $533,000 after acquiring an additional 64 shares during the period. Kestra Private Wealth Services LLC grew its stake in Waste Connections by 2.6% in the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 64 shares during the period. WPG Advisers LLC grew its stake in Waste Connections by 7.7% in the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 66 shares during the period. RDA Financial Network grew its stake in Waste Connections by 2.8% in the fourth quarter. RDA Financial Network now owns 2,459 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 67 shares during the period. Finally, Integrated Advisors Network LLC grew its stake in Waste Connections by 4.3% in the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. JPMorgan Chase & Co. raised their price objective on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a research note on Friday, February 13th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, TD Cowen dropped their target price on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $203.35.

Insiders Place Their Bets

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president directly owned 13,350 shares of the company’s stock, valued at $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP James Little sold 2,605 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the completion of the sale, the vice president directly owned 34,395 shares of the company’s stock, valued at $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.27% of the company’s stock.

Waste Connections Stock Up 1.2%

WCN stock opened at $150.87 on Thursday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $193.62. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock’s 50 day moving average is $158.15 and its 200-day moving average is $165.91. The firm has a market capitalization of $38.28 billion, a PE ratio of 36.80, a P/E/G ratio of 2.65 and a beta of 0.51.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. Sell-side analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections’s dividend payout ratio (DPR) is currently 34.15%.

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.