CLARET ASSET MANAGEMENT Corp boosted its holdings in Waste Connections Inc (NYSE:WCN) by 31.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,154 shares of the business services provider’s stock after buying an additional 985 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Waste Connections were worth $331,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Zions Bancorporation acquired a new position in shares of Waste Connections in the 2nd quarter valued at about $178,000. Jaffetilchin Investment Partners LLC acquired a new position in shares of Waste Connections in the 2nd quarter valued at about $203,000. Nisa Investment Advisors LLC acquired a new position in shares of Waste Connections in the 3rd quarter valued at about $204,000. Trexquant Investment LP acquired a new position in shares of Waste Connections in the 2nd quarter valued at about $216,000. Finally, Cumberland Partners Ltd acquired a new position in shares of Waste Connections in the 2nd quarter valued at about $236,000. 81.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:WCN opened at $75.71 on Wednesday. The stock has a market cap of $19.27 billion, a P/E ratio of 35.05, a P/E/G ratio of 2.57 and a beta of 0.05. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.60. Waste Connections Inc has a one year low of $65.06 and a one year high of $81.36.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.16 per share. This is an increase from Waste Connections’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, November 9th. Waste Connections’s dividend payout ratio (DPR) is presently 25.93%.
In other Waste Connections news, COO Darrell W. Chambliss sold 6,485 shares of Waste Connections stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $80.00, for a total transaction of $518,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David Eddie sold 20,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $80.06, for a total value of $1,601,200.00. Following the sale, the vice president now owns 36,320 shares in the company, valued at $2,907,779.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,385 shares of company stock worth $3,063,670. Company insiders own 0.40% of the company’s stock.
WCN has been the topic of several analyst reports. Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Saturday, July 7th. Citigroup raised their target price on Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Royal Bank of Canada raised their target price on Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Finally, TD Securities raised their target price on Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, July 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $84.11.
About Waste Connections
Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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