Cibc World Market Inc. Buys 103,582 Shares of Waste Connections, Inc. (NYSE:WCN)

Cibc World Market Inc. lifted its position in Waste Connections, Inc. (NYSE:WCN) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,546,877 shares of the business services provider’s stock after acquiring an additional 103,582 shares during the quarter. Cibc World Market Inc. owned approximately 0.60% of Waste Connections worth $271,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its position in Waste Connections by 116.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. OFI Invest Asset Management purchased a new position in Waste Connections in the first quarter worth $32,000. Pathway Financial Advisers LLC bought a new position in Waste Connections in the 1st quarter valued at $43,000. Signature Resources Capital Management LLC purchased a new stake in shares of Waste Connections during the 2nd quarter valued at $45,000. Finally, Sands Capital Management LLC raised its stake in shares of Waste Connections by 76.6% during the 4th quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock worth $56,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. CIBC lifted their price target on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, July 29th. BMO Capital Markets boosted their target price on Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Raymond James increased their price target on Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $187.28.

Insider Activity at Waste Connections

In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Philip Rivard sold 2,300 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total transaction of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares in the company, valued at approximately $214,243.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,600 shares of company stock valued at $3,842,550. Corporate insiders own 0.31% of the company’s stock.

Waste Connections Trading Up 0.4 %

Shares of WCN opened at $185.37 on Thursday. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $187.54. The company has a market capitalization of $47.83 billion, a P/E ratio of 60.18, a P/E/G ratio of 2.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $181.36 and its 200 day simple moving average is $172.69.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $1.02 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.62%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

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.