Bank of Montreal Can Raises Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Bank of Montreal Can increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,103,895 shares of the business services provider’s stock after acquiring an additional 178,870 shares during the period. Waste Connections makes up 0.7% of Bank of Montreal Can’s investment portfolio, making the stock its 25th largest holding. Bank of Montreal Can owned about 3.14% of Waste Connections worth $1,423,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd boosted its stake in shares of Waste Connections by 137.8% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 24,817 shares of the business services provider’s stock worth $4,352,000 after buying an additional 14,382 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Waste Connections by 3.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,344 shares of the business services provider’s stock valued at $4,270,000 after purchasing an additional 900 shares during the last quarter. DRW Securities LLC bought a new position in shares of Waste Connections in the 2nd quarter worth approximately $453,000. Thrivent Financial for Lutherans boosted its holdings in shares of Waste Connections by 10.2% in the second quarter. Thrivent Financial for Lutherans now owns 10,106 shares of the business services provider’s stock worth $1,772,000 after buying an additional 932 shares during the last quarter. Finally, Sei Investments Co. grew its position in Waste Connections by 252.5% during the second quarter. Sei Investments Co. now owns 510,243 shares of the business services provider’s stock valued at $89,477,000 after buying an additional 365,487 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.0 %

Shares of NYSE WCN opened at $179.15 on Monday. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. The firm has a market capitalization of $46.22 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 2.96 and a beta of 0.72. The stock has a 50 day moving average price of $181.85 and a 200 day moving average price of $173.46. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The company 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%. Waste Connections’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. Sell-side analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WCN shares. JPMorgan Chase & Co. lifted their price target on shares of Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. CIBC boosted their price target on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Truist Financial increased their target price on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets lifted their target price on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.28.

Insider Activity at Waste Connections

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

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.