Copeland Capital Management LLC Lowers Stock Holdings in Waste Connections, Inc. $WCN

Copeland Capital Management LLC cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 103,064 shares of the business services provider’s stock after selling 4,953 shares during the period. Copeland Capital Management LLC’s holdings in Waste Connections were worth $18,119,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Asset Dedication LLC acquired a new stake in Waste Connections in the 2nd quarter worth about $28,000. AlphaCore Capital LLC purchased a new position in shares of Waste Connections during the 2nd quarter worth about $39,000. Caldwell Trust Co acquired a new stake in shares of Waste Connections in the second quarter worth approximately $49,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Waste Connections in the second quarter worth approximately $51,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Waste Connections in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Activity at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the transaction, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This represents a 37.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.28% of the company’s stock.

Waste Connections Trading Up 0.3%

NYSE:WCN opened at $178.60 on Tuesday. The business’s 50-day moving average is $172.83 and its two-hundred day moving average is $178.31. The firm has a market capitalization of $45.67 billion, a PE ratio of 74.42, a price-to-earnings-growth ratio of 3.53 and a beta of 0.62. Waste Connections, Inc. has a 12 month low of $163.27 and a 12 month high of $201.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67.

Waste Connections (NYSE:WCN) last posted its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. Research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.35 per share. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 5th. Waste Connections’s payout ratio is 58.33%.

Analysts Set New Price Targets

WCN has been the topic of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating and set a $210.00 price target on shares of Waste Connections in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 target price (up previously from $215.00) on shares of Waste Connections in a report on Wednesday, December 17th. The Goldman Sachs Group initiated coverage on Waste Connections in a research report on Monday, November 24th. They set a “buy” rating and a $202.00 price target for the company. Finally, UBS Group set a $195.00 price objective on Waste Connections and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $208.37.

Waste Connections Company Profile

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.