Canada Pension Plan Investment Board Has $45.39 Million Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Canada Pension Plan Investment Board raised its position in Waste Connections, Inc. (NYSE:WCNGet Rating) by 28.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,255 shares of the business services provider’s stock after buying an additional 72,655 shares during the quarter. Canada Pension Plan Investment Board owned 0.13% of Waste Connections worth $45,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. abrdn plc lifted its position in shares of Waste Connections by 11.7% during the 4th quarter. abrdn plc now owns 1,436,388 shares of the business services provider’s stock valued at $195,736,000 after acquiring an additional 150,389 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Waste Connections by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 235,639 shares of the business services provider’s stock valued at $32,109,000 after acquiring an additional 1,304 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Waste Connections during the 4th quarter valued at $402,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Waste Connections by 1.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 51,109 shares of the business services provider’s stock valued at $5,422,000 after acquiring an additional 604 shares during the period. Finally, Aviva PLC lifted its position in shares of Waste Connections by 3.0% during the 4th quarter. Aviva PLC now owns 82,574 shares of the business services provider’s stock valued at $11,249,000 after acquiring an additional 2,367 shares during the period. 79.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William J. Razzouk sold 4,073 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $140.03, for a total value of $570,342.19. Following the completion of the sale, the director now owns 4,016 shares of the company’s stock, valued at $562,360.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Oppenheimer set a $135.00 target price on Waste Connections in a research report on Tuesday, July 19th. Royal Bank of Canada upped their price objective on Waste Connections from $147.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Waste Connections from $145.00 to $154.00 in a research report on Tuesday, August 9th. Raymond James upped their price objective on Waste Connections from $146.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 5th. Finally, Atb Cap Markets upgraded Waste Connections from a “sector perform” rating to an “outperform” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $148.25.

Waste Connections Price Performance

Shares of WCN opened at $145.57 on Friday. Waste Connections, Inc. has a 12-month low of $113.50 and a 12-month high of $146.02. The business has a 50-day simple moving average of $134.26 and a two-hundred day simple moving average of $131.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.82. The stock has a market cap of $37.44 billion, a PE ratio of 55.14, a PEG ratio of 2.98 and a beta of 0.69.

Waste Connections (NYSE:WCNGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Waste Connections had a return on equity of 13.38% and a net margin of 10.25%. Analysts anticipate that Waste Connections, Inc. will post 3.75 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.92 annualized dividend and a dividend yield of 0.63%. Waste Connections’s payout ratio is 34.85%.

Waste Connections Company Profile

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Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

See Also

Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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