IFM Investors Pty Ltd Trims Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

IFM Investors Pty Ltd decreased its position in Waste Connections, Inc. (NYSE:WCN) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,624 shares of the business services provider’s stock after selling 203 shares during the quarter. IFM Investors Pty Ltd’s holdings in Waste Connections were worth $9,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CENTRAL TRUST Co increased its stake in shares of Waste Connections by 22.7% in the 3rd quarter. CENTRAL TRUST Co now owns 8,110 shares of the business services provider’s stock worth $1,450,000 after acquiring an additional 1,499 shares in the last quarter. JCIC Asset Management Inc. grew its holdings in Waste Connections by 3.5% in the third quarter. JCIC Asset Management Inc. now owns 35,372 shares of the business services provider’s stock worth $6,322,000 after purchasing an additional 1,190 shares during the period. International Assets Investment Management LLC bought a new position in shares of Waste Connections during the third quarter valued at approximately $7,227,000. Private Advisor Group LLC lifted its holdings in shares of Waste Connections by 9.4% during the third quarter. Private Advisor Group LLC now owns 2,738 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 235 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Waste Connections by 19.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,841 shares of the business services provider’s stock worth $1,045,000 after purchasing an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 1.0 %

NYSE:WCN opened at $178.60 on Friday. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $187.54. The business has a fifty day moving average price of $182.16 and a 200-day moving average price of $175.05. The firm has a market capitalization of $46.08 billion, a price-to-earnings ratio of 57.99, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 earnings per share. Sell-side analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.315 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.71%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is currently 37.01%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James lifted their price objective on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research note on Monday, July 22nd. Truist Financial upped their price target on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Oppenheimer raised their price objective on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Finally, TD Cowen raised their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.19.

Insiders Place Their Bets

In related news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total transaction of $180,150.00. Following the transaction, the senior vice president now owns 4,321 shares in the company, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,600 shares of company stock worth $3,842,550 over the last three months. 0.31% of the stock is currently owned by company insiders.

Waste Connections Company Profile

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.