Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 182,252 Waste Connections, Inc. $WCN

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Waste Connections, Inc. (NYSE:WCN) during the first quarter, HoldingsChannel.com reports. The fund purchased 182,252 shares of the business services provider’s stock, valued at approximately $29,604,000.

Other institutional investors and hedge funds have also modified their holdings of the company. City Holding Co. bought a new stake in shares of Waste Connections during the 4th quarter worth $26,000. Measured Wealth Private Client Group LLC bought a new position in Waste Connections in the 3rd quarter worth $26,000. Whipplewood Advisors LLC raised its holdings in Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after acquiring an additional 175 shares during the period. Transamerica Financial Advisors LLC lifted its position in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Waste Connections during the 4th quarter worth $36,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Waste Connections

In other news, VP Patrick James Shea sold 7,500 shares of Waste Connections 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 sale, the vice president owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Hansen sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the sale, the senior vice president owned 13,350 shares in the company, valued at approximately $2,200,347. This represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,000 shares of company stock worth $2,395,755. Insiders own 0.27% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $169.52 on Monday. The company’s fifty day moving average is $161.36 and its two-hundred day moving average is $163.21. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.91. 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 firm has a market capitalization of $42.78 billion, a price-to-earnings ratio of 40.85, a P/E/G ratio of 2.91 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts forecast that Waste Connections, Inc. will post 5.6 EPS for the current year.

Waste Connections Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WCN. 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 research report on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. The Goldman Sachs Group restated a “buy” rating and set a $211.00 target price on shares of Waste Connections in a research note on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.05.

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.