Forsta AP Fonden Acquires 5,700 Shares of Waste Connections, Inc. (NYSE:WCN)

Forsta AP Fonden grew its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 12.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 50,900 shares of the business services provider’s stock after purchasing an additional 5,700 shares during the period. Forsta AP Fonden’s holdings in Waste Connections were worth $9,102,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Waste Connections by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,005 shares of the business services provider’s stock valued at $689,000 after buying an additional 118 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in shares of Waste Connections in the 1st quarter worth approximately $370,000. Hexagon Capital Partners LLC grew its holdings in shares of Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. increased its position in shares of Waste Connections by 3.2% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 62,180 shares of the business services provider’s stock valued at $10,700,000 after acquiring an additional 1,925 shares during the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in Waste Connections by 23.1% during the first quarter. Arcus Capital Partners LLC now owns 4,618 shares of the business services provider’s stock worth $794,000 after acquiring an additional 866 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Down 1.5 %

WCN stock opened at $175.80 on Monday. The stock has a 50-day simple moving average of $181.95 and a two-hundred day simple moving average of $175.22. Waste Connections, Inc. has a twelve month low of $126.12 and a twelve month high of $187.54. The firm has a market capitalization of $45.37 billion, a PE ratio of 52.63, a PEG ratio of 2.98 and a beta of 0.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. Waste Connections’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts predict that Waste Connections, Inc. will post 4.82 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.315 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.26 annualized dividend and a dividend yield of 0.72%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the transaction, the senior vice president now directly owns 4,321 shares in the company, valued at $778,428.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares of the company’s stock, valued at $778,428.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Susan Netherton sold 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total transaction of $358,260.00. Following the sale, the senior vice president now owns 10,078 shares in the company, valued at approximately $1,805,272.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,600 shares of company stock worth $3,842,550. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WCN shares. CIBC upped their price objective on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research note on Friday, July 26th. Scotiabank started coverage on shares of Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research note on Friday. Raymond James decreased their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research note on Friday. Finally, TD Cowen upped their price objective on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waste Connections has an average rating of “Moderate Buy” and an average price target of $195.56.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.