Mackenzie Financial Corp Sells 114,706 Shares of Waste Connections, Inc. (NYSE:WCN)

Mackenzie Financial Corp lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 3.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,301,509 shares of the business services provider’s stock after selling 114,706 shares during the period. Waste Connections makes up 0.9% of Mackenzie Financial Corp’s investment portfolio, making the stock its 29th biggest holding. Mackenzie Financial Corp’s holdings in Waste Connections were worth $579,322,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sei Investments Co. raised its holdings in Waste Connections by 6.2% in the 1st quarter. Sei Investments Co. now owns 144,756 shares of the business services provider’s stock valued at $24,899,000 after acquiring an additional 8,505 shares in the last quarter. Capstone Investment Advisors LLC increased its holdings in Waste Connections by 591.5% in the 1st quarter. Capstone Investment Advisors LLC now owns 9,881 shares of the business services provider’s stock valued at $1,700,000 after buying an additional 8,452 shares during the period. Wellington Management Group LLP raised its stake in shares of Waste Connections by 43.4% in 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. Allianz Asset Management GmbH lifted its holdings in shares of Waste Connections by 30.3% during the 4th quarter. Allianz Asset Management GmbH now owns 34,010 shares of the business services provider’s stock worth $5,103,000 after acquiring an additional 7,917 shares during the period. Finally, Meyer Handelman Co. acquired a new stake in shares of Waste Connections during the 1st quarter valued at about $1,040,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 1.1 %

Shares of NYSE WCN opened at $178.52 on Friday. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. 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 stock has a market cap of $46.07 billion, a P/E ratio of 57.96, a P/E/G ratio of 2.88 and a beta of 0.72. The firm has a 50 day moving average price of $181.77 and a 200 day moving average price of $173.68.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.07. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 EPS. Analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s dividend payout ratio is presently 37.01%.

Insider Activity at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections 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 completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the transaction, the senior vice president now directly owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of 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. Over the last quarter, insiders have sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Oppenheimer boosted their price target on Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. increased their price objective on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Raymond James boosted their target price 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, Truist Financial upped 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. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.28.

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.