3,486 Waste Connections, Inc. $WCN Shares Sold by Candriam S.C.A.

Candriam S.C.A. reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 8.1% during the third quarter, Holdings Channel reports. The institutional investor owned 39,544 shares of the business services provider’s stock after selling 3,486 shares during the period. Candriam S.C.A.’s holdings in Waste Connections were worth $6,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WCN. Alps Advisors Inc. bought a new stake in Waste Connections during the 3rd quarter worth approximately $702,000. CenterBook Partners LP purchased a new position in Waste Connections during the third quarter valued at approximately $265,000. Argonautica Private Wealth Management Inc. lifted its holdings in Waste Connections by 5.3% during the third quarter. Argonautica Private Wealth Management Inc. now owns 4,464 shares of the business services provider’s stock valued at $687,000 after purchasing an additional 223 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of Waste Connections by 2.2% in the third quarter. Kestra Advisory Services LLC now owns 7,730 shares of the business services provider’s stock worth $1,190,000 after purchasing an additional 163 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Waste Connections by 4.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,216 shares of the business services provider’s stock worth $1,265,000 after purchasing an additional 355 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James Financial set a $189.00 price objective on shares of Waste Connections in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Waste Connections from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. TD Cowen reaffirmed a “buy” rating and issued a $215.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday, October 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $221.00 target price (up from $218.00) on shares of Waste Connections in a report on Friday, October 23rd. Finally, Wolfe Research initiated coverage on Waste Connections in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $204.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and a consensus target price of $203.22.

Insider Transactions at Waste Connections

In other Waste Connections news, VP James Little sold 2,000 shares of the stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $185.22, for a total transaction of $370,440.00. Following the transaction, the vice president directly owned 32,395 shares in the company, valued at $6,000,201.90. This represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Derek Tan sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $186.77, for a total transaction of $186,770.00. Following the transaction, the chief accounting officer directly owned 404 shares in the company, valued at $75,455.08. This trade represents a 71.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,500 shares of company stock valued at $2,960,235. Insiders own 0.27% of the company’s stock.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $191.01 on Wednesday. The company has a market cap of $47.69 billion, a P/E ratio of 42.73, a P/E/G ratio of 3.48 and a beta of 0.43. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $195.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s fifty day moving average is $166.52 and its two-hundred day moving average is $164.34.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.06. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.60 billion. The firm’s revenue was up 23.8% compared to the same quarter last year. As a group, analysts anticipate that Waste Connections, Inc. will post 5.70 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.3850 dividend. The ex-dividend date is Thursday, November 5th. This is an increase from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is presently 34.45%.

Waste Connections Company Profile

Waste Connections, Inc. is a North American provider of non-hazardous solid waste services. The company serves residential, commercial, industrial and municipal customers, with operations across the United States and Canada, particularly in secondary markets and rural communities. Its services include waste collection, transfer and disposal, as well as recycling and resource recovery. In select regions, Waste Connections also provides treatment, recovery and disposal services for waste generated by oil and gas exploration and production.