Varma Mutual Pension Insurance Co Makes New $7.44 Million Investment in Waste Connections, Inc. (NYSE:WCN)

Varma Mutual Pension Insurance Co acquired a new position in Waste Connections, Inc. (NYSE:WCNGet Rating) in the 2nd quarter, HoldingsChannel reports. The firm acquired 60,000 shares of the business services provider’s stock, valued at approximately $7,437,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Waste Connections by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 26,534,494 shares of the business services provider’s stock worth $3,706,868,000 after buying an additional 178,766 shares during the period. Royal Bank of Canada lifted its stake in shares of Waste Connections by 0.6% in the 1st quarter. Royal Bank of Canada now owns 9,806,311 shares of the business services provider’s stock valued at $1,369,941,000 after purchasing an additional 57,714 shares during the period. Pictet Asset Management SA lifted its stake in shares of Waste Connections by 5.4% in the 2nd quarter. Pictet Asset Management SA now owns 6,838,524 shares of the business services provider’s stock valued at $846,090,000 after purchasing an additional 349,859 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Waste Connections by 6.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,991,051 shares of the business services provider’s stock valued at $697,743,000 after purchasing an additional 321,702 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Waste Connections by 6.3% in the 1st quarter. 1832 Asset Management L.P. now owns 4,262,276 shares of the business services provider’s stock valued at $588,687,000 after purchasing an additional 252,842 shares during the period. Hedge funds and other institutional investors own 79.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Eric Hansen sold 4,000 shares of Waste Connections stock in a transaction on Monday, November 7th. The stock was sold at an average price of $136.93, for a total value of $547,720.00. Following the completion of the sale, the senior vice president now owns 6,460 shares of the company’s stock, valued at $884,567.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Eric Hansen sold 4,000 shares of Waste Connections stock in a transaction on Monday, November 7th. The stock was sold at an average price of $136.93, for a total transaction of $547,720.00. Following the transaction, the senior vice president now directly owns 6,460 shares in the company, valued at $884,567.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick James Shea sold 7,000 shares of Waste Connections stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $145.26, for a total value of $1,016,820.00. Following the transaction, the vice president now owns 12,813 shares in the company, valued at $1,861,216.38. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on WCN. StockNews.com began coverage on Waste Connections in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Atb Cap Markets upgraded Waste Connections from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 4th. Royal Bank of Canada raised their target price on Waste Connections from $150.00 to $153.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 price objective on shares of Waste Connections in a research note on Tuesday, October 25th. Finally, Raymond James lifted their price objective on Waste Connections from $149.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Monday, November 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $151.63.

Waste Connections Stock Up 0.1 %

Shares of Waste Connections stock traded up $0.17 on Thursday, reaching $141.98. The company’s stock had a trading volume of 786,576 shares, compared to its average volume of 1,231,341. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.90. Waste Connections, Inc. has a 52 week low of $113.50 and a 52 week high of $148.20. The company has a market capitalization of $36.51 billion, a price-to-earnings ratio of 45.51, a P/E/G ratio of 2.95 and a beta of 0.64. The firm’s fifty day simple moving average is $136.21 and its two-hundred day simple moving average is $132.33.

Waste Connections (NYSE:WCNGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. Waste Connections had a return on equity of 14.10% and a net margin of 11.59%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Equities analysts anticipate that Waste Connections, Inc. will post 3.81 earnings per share for the current year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Wednesday, November 16th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.02 annualized dividend and a dividend yield of 0.72%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.23. Waste Connections’s payout ratio is presently 32.69%.

About Waste Connections

(Get Rating)

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

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

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