CIBC Private Wealth Group LLC Increases Position in Waste Connections, Inc. (NYSE:WCN)

CIBC Private Wealth Group LLC lifted its position in shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) by 98.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 149,316 shares of the business services provider’s stock after buying an additional 74,189 shares during the period. CIBC Private Wealth Group LLC’s holdings in Waste Connections were worth $20,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WCN. WCM Investment Management LLC lifted its stake in shares of Waste Connections by 193.6% during the third quarter. WCM Investment Management LLC now owns 8,643,709 shares of the business services provider’s stock valued at $1,184,447,000 after buying an additional 5,699,706 shares during the period. Bishop Rock Capital L.P. lifted its stake in shares of Waste Connections by 5,087.3% during the second quarter. Bishop Rock Capital L.P. now owns 5,530,104 shares of the business services provider’s stock valued at $44,612,000 after buying an additional 5,423,495 shares during the period. Bank of Montreal Can lifted its stake in shares of Waste Connections by 34.7% during the third quarter. Bank of Montreal Can now owns 11,291,300 shares of the business services provider’s stock valued at $1,565,922,000 after buying an additional 2,907,249 shares during the period. Alphinity Investment Management Pty Ltd raised its stake in Waste Connections by 1,392.6% during the third quarter. Alphinity Investment Management Pty Ltd now owns 1,865,606 shares of the business services provider’s stock worth $252,099,000 after purchasing an additional 1,740,616 shares during the period. Finally, BlackRock Inc. raised its stake in Waste Connections by 10.9% during the third quarter. BlackRock Inc. now owns 9,966,911 shares of the business services provider’s stock worth $1,346,827,000 after purchasing an additional 981,635 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Analysts Set New Price Targets

WCN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Waste Connections from $154.00 to $155.00 in a research note on Monday, January 30th. StockNews.com downgraded shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, March 3rd. BMO Capital Markets cut their price target on shares of Waste Connections from $158.00 to $153.00 and set an “outperform” rating on the stock in a research note on Friday, February 17th. Raymond James increased their price target on shares of Waste Connections from $152.00 to $154.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 22nd. Finally, Atb Cap Markets raised shares of Waste Connections from a “sector perform” rating to an “outperform” rating in a research note on Thursday, February 16th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.75.

Waste Connections Stock Performance

Shares of WCN stock opened at $134.98 on Wednesday. The company’s fifty day simple moving average is $132.69 and its 200-day simple moving average is $135.87. Waste Connections, Inc. has a 52 week low of $113.50 and a 52 week high of $148.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.97. The company has a market cap of $34.72 billion, a PE ratio of 41.79, a P/E/G ratio of 2.71 and a beta of 0.67.

Waste Connections (NYSE:WCN – Get Rating) last issued its earnings results on Wednesday, February 15th. The business services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Waste Connections had a net margin of 11.59% and a return on equity of 14.23%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 4.22 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, February 28th. Waste Connections’s payout ratio is 31.58%.

Insider Activity at Waste Connections

In related news, Director William J. Razzouk sold 1,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $135.61, for a total transaction of $135,610.00. Following the completion of the sale, the director now directly owns 3,431 shares of the company’s stock, valued at approximately $465,277.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director William J. Razzouk sold 1,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $135.61, for a total transaction of $135,610.00. Following the completion of the sale, the director now directly owns 3,431 shares of the company’s stock, valued at approximately $465,277.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James Little sold 4,500 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $135.87, for a total transaction of $611,415.00. Following the sale, the vice president now directly owns 29,410 shares of the company’s stock, valued at $3,995,936.70. The disclosure for this sale can be found here. In the last three months, insiders sold 8,700 shares of company stock valued at $1,177,955. Corporate insiders own 0.34% of the company’s stock.

About Waste Connections

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Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. The firm offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.