Owlhouse Capital LP Invests $4.61 Million in Waste Connections, Inc. $WCN

Owlhouse Capital LP bought a new stake in Waste Connections, Inc. (NYSE:WCN) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 28,352 shares of the business services provider’s stock, valued at approximately $4,605,000. Waste Connections comprises about 6.1% of Owlhouse Capital LP’s holdings, making the stock its 7th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Waste Connections during the first quarter worth about $577,000. Invesco Ltd. grew its stake in Waste Connections by 12.8% during the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock worth $40,946,000 after buying an additional 24,948 shares during the last quarter. First Trust Advisors LP grew its stake in Waste Connections by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock worth $4,572,000 after buying an additional 688 shares during the last quarter. Jump Financial LLC acquired a new position in Waste Connections during the second quarter worth approximately $2,714,000. Finally, State Street Corp increased its position in Waste Connections by 1.0% during the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock worth $337,708,000 after buying an additional 17,197 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WCN has been the topic of a number of research reports. TD Cowen restated a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday. JPMorgan Chase & Co. reduced their price target 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. BMO Capital Markets restated 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. Finally, Barclays set a $180.00 target price on shares of Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.05.

Waste Connections Price Performance

Shares of WCN opened at $169.52 on Monday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The stock’s 50 day moving average is $161.36 and its two-hundred day moving average is $163.21. The firm has a market capitalization of $42.78 billion, a PE ratio of 40.85, a P/E/G ratio of 2.91 and a beta of 0.49. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17.

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 the consensus estimate of $2.51 billion. During the same period in the prior year, the business posted $1.29 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts anticipate that Waste Connections, Inc. will post 5.6 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is 33.73%.

Insider Activity at Waste Connections

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the acquisition, the chief executive officer owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This represents a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 15,000 shares of company stock worth $2,395,755 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.