Owlhouse Capital LP Takes Position in Waste Connections, Inc. $WCN

Owlhouse Capital LP purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,352 shares of the business services provider’s stock, valued at approximately $4,605,000. Waste Connections comprises 6.1% of Owlhouse Capital LP’s portfolio, making the stock its 7th biggest position.

Several other large investors also recently bought and sold shares of the business. City Holding Co. purchased a new position in Waste Connections in the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections in the third quarter valued at approximately $26,000. Whipplewood Advisors LLC lifted its position in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after buying an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after buying an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Waste Connections during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 0.1%

Shares of NYSE WCN opened at $169.52 on Monday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. The stock has a fifty day simple moving average of $161.36 and a 200-day simple moving average of $163.21. The stock has a market capitalization of $42.78 billion, a PE ratio of 40.85, a PEG ratio of 2.91 and a beta of 0.49.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $1.29 EPS. Waste Connections’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that Waste Connections, Inc. will post 5.6 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is 33.73%.

Insider Buying and Selling

In other news, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the purchase, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 15,000 shares of company stock worth $2,395,755 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $211.00 target price on shares of Waste Connections in a research note on Thursday, April 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday. Citigroup raised their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. TD Cowen reiterated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.05.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.