Rathbones Group PLC Reduces Holdings in Waste Connections, Inc. $WCN

Rathbones Group PLC lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 638,608 shares of the business services provider’s stock after selling 30,834 shares during the period. Rathbones Group PLC’s holdings in Waste Connections were worth $103,735,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Trium Capital LLP bought a new position in shares of Waste Connections during the 4th quarter worth approximately $1,995,000. Nicholas Company Inc. boosted its stake in Waste Connections by 32.4% in the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock valued at $78,756,000 after acquiring an additional 109,950 shares in the last quarter. Mirabaud Asset Management Ltd boosted its stake in Waste Connections by 28.9% in the fourth quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider’s stock valued at $10,754,000 after acquiring an additional 12,680 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Waste Connections by 16.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 60,140 shares of the business services provider’s stock worth $10,546,000 after purchasing an additional 8,363 shares during the last quarter. Finally, Addenda Capital Inc. grew its holdings in Waste Connections by 4.9% in the fourth quarter. Addenda Capital Inc. now owns 220,427 shares of the business services provider’s stock worth $38,654,000 after purchasing an additional 10,377 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WCN. Barclays upped their price target on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. TD Cowen reaffirmed 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, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.42.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $167.54 on Monday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market cap of $42.28 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.49. The company’s 50 day moving average is $162.57 and its 200 day moving average is $163.23.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. On average, sell-side analysts forecast that Waste Connections, Inc. will post 5.63 EPS for the current year.

Waste Connections Dividend Announcement

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

Insiders Place Their Bets

In other news, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the sale, the chief operating officer owned 32,861 shares in the company, valued at $5,145,703.99. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the acquisition, the chief executive officer owned 301,017 shares in the company, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 11,811 shares of company stock worth $1,887,572. 0.27% of the stock is owned by company 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.