Lmcg Investments LLC Increases Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Lmcg Investments LLC raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,461 shares of the business services provider’s stock after buying an additional 1,577 shares during the period. Waste Connections comprises 0.9% of Lmcg Investments LLC’s portfolio, making the stock its 24th largest holding. Lmcg Investments LLC’s holdings in Waste Connections were worth $14,811,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Waste Connections by 0.3% in the first quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock worth $4,902,110,000 after purchasing an additional 88,137 shares in the last quarter. TD Asset Management Inc boosted its stake in Waste Connections by 9.8% during the fourth quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock valued at $856,641,000 after buying an additional 509,929 shares during the last quarter. Wellington Management Group LLP grew its holdings in Waste Connections by 43.4% during the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock valued at $651,427,000 after buying an additional 1,320,933 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Waste Connections by 7.3% in the 4th quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock worth $612,605,000 after acquiring an additional 280,275 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Waste Connections during the 4th quarter worth approximately $592,392,000. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Waste Connections

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares in the company, valued at approximately $778,428.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Robert Nielsen III sold 1,000 shares of the firm’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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of Waste Connections stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $174.75, for a total transaction of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. The disclosure for this sale can be found here. Insiders sold 21,600 shares of company stock worth $3,842,550 over the last three months. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Down 0.1 %

Waste Connections stock opened at $185.44 on Tuesday. The business’s 50-day simple moving average is $181.86 and its two-hundred day simple moving average is $173.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $47.85 billion, a PE ratio of 60.21, a PEG ratio of 2.96 and a beta of 0.72. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54.

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

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.61%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

About Waste Connections

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.