278,498 Shares in Waste Connections, Inc. $WCN Acquired by Osterweis Capital Management Inc.

Osterweis Capital Management Inc. purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 278,498 shares of the business services provider’s stock, valued at approximately $46,423,000. Waste Connections accounts for approximately 2.2% of Osterweis Capital Management Inc.’s holdings, making the stock its 12th largest holding.

Several other institutional investors also recently added to or reduced their stakes in the company. XXEC Inc. acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $164,870,000. BlackRock Inc. acquired a new position in shares of Waste Connections in the 2nd quarter valued at $1,061,947,000. Norges Bank acquired a new position in shares of Waste Connections in the 4th quarter valued at $697,519,000. The Manufacturers Life Insurance Company acquired a new position in shares of Waste Connections in the 2nd quarter valued at $589,671,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Waste Connections in the 2nd quarter valued at $414,481,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

Shares of NYSE WCN opened at $168.98 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a fifty day moving average price of $166.82 and a 200 day moving average price of $163.15. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $185.33. The company has a market cap of $42.51 billion, a PE ratio of 40.72, a P/E/G ratio of 2.91 and a beta of 0.48.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. Sell-side analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reiterated a “neutral” rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Citigroup lifted their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Barclays upped their target price on shares of Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Two investment 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 company’s stock. According to MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and an average price target of $200.89.

Insider Activity

In related news, SVP Robert Michael Cloninger sold 2,811 shares of the firm’s 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 sale, the senior vice president owned 11,666 shares in the company, valued at $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares in the company, valued at $3,084,103.62. This represents a 27.54% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is owned by insiders.

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.