Ferguson Wellman Capital Management Inc. Makes New Investment in Waste Connections, Inc. $WCN

Ferguson Wellman Capital Management Inc. acquired a new stake in Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,783 shares of the business services provider’s stock, valued at approximately $631,000.

A number of other institutional investors have also recently modified their holdings of WCN. Measured Wealth Private Client Group LLC bought a new position in shares of Waste Connections in the third quarter worth $26,000. Group One Trading LLC bought a new stake in Waste Connections during the second quarter worth about $30,000. Whipplewood Advisors LLC lifted its position in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after purchasing an additional 175 shares during the period. Transamerica Financial Advisors LLC lifted its position in Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the fourth quarter worth about $36,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Up 0.3%

Shares of WCN opened at $166.19 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $185.33. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.85 and a beta of 0.48. The stock has a fifty day moving average of $167.73 and a 200-day moving average of $163.12.

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

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid 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 currently 33.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WCN shares. Citigroup raised their target price on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. TD Cowen reaffirmed a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. UBS Group reissued a “neutral” rating and issued a $176.00 price objective (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $200.89.

Insider Buying and Selling

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the sale, the senior vice president owned 734 shares of the company’s stock, valued at approximately $122,262.38. This represents a 77.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares in the company, valued at $3,084,103.62. This trade represents a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,311 shares of company stock valued at $2,303,997 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

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.