Chris Bulman Inc Makes New $498,000 Investment in Waste Connections, Inc. (NYSE:WCN)

Chris Bulman Inc purchased a new stake in Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,840 shares of the business services provider’s stock, valued at approximately $498,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Waste Connections in the 4th quarter valued at approximately $592,392,000. Wellington Management Group LLP increased its holdings in shares of Waste Connections by 43.4% during the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after buying an additional 1,320,933 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Waste Connections by 235.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock valued at $172,240,000 after acquiring an additional 809,914 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Waste Connections by 113.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider’s stock valued at $177,438,000 after acquiring an additional 630,685 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Waste Connections by 9.8% during the 4th quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock worth $856,641,000 after acquiring an additional 509,929 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

WCN has been the subject of several research reports. TD Cowen increased their target price on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. CIBC upped their price target on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research report on Friday, July 26th. Raymond James raised their price target on shares of Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Oppenheimer boosted their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and an average price target of $187.28.

Insider Transactions at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at $778,428.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the completion of the transaction, the senior vice president now owns 10,078 shares in the company, valued at approximately $1,805,272.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares in the company, valued at $778,428.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,600 shares of company stock worth $3,842,550. 0.31% of the stock is owned by company insiders.

Waste Connections Stock Performance

WCN stock opened at $182.62 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The firm has a market cap of $47.12 billion, a PE ratio of 59.29, a P/E/G ratio of 2.98 and a beta of 0.72. The business has a 50 day moving average of $180.79 and a 200-day moving average of $172.36. Waste Connections, Inc. has a 12-month low of $126.12 and a 12-month high of $187.54.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.02 EPS. As a group, sell-side analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were given a dividend of $0.285 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.62%. Waste Connections’s dividend payout ratio is presently 37.01%.

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.