2,488,903 Shares in Waste Connections, Inc. $WCN Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,488,903 shares of the business services provider’s stock, valued at approximately $414,481,000. Waste Connections comprises approximately 0.8% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 26th biggest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Waste Connections as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WCN. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections during the 3rd quarter worth about $26,000. Whipplewood Advisors LLC raised its position in shares of Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC raised its position in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after buying an additional 135 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $36,000. Finally, Entrust Financial LLC purchased a new position in shares of Waste Connections during the fourth quarter valued at approximately $37,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the sale, the chief operating officer directly owned 32,861 shares in the company, valued at $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Michael Cloninger sold 2,811 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on WCN shares. Barclays lifted their target price on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. UBS Group reissued a “neutral” rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research note on Friday, August 7th. Finally, Citigroup upped their target price on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.89.

Waste Connections Stock Performance

Shares of WCN stock opened at $169.81 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $42.72 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $188.09. The company has a 50 day moving average price of $166.53 and a 200 day moving average price of $163.13.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. Sell-side analysts anticipate that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a $0.35 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is presently 33.73%.

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.