Waste Connections, Inc. $WCN Holdings Cut by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. trimmed its position in Waste Connections, Inc. (NYSE:WCN) by 22.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,822,200 shares of the business services provider’s stock after selling 523,366 shares during the quarter. Waste Connections accounts for 4.3% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 6th largest position. Montrusco Bolton Investments Inc.’s holdings in Waste Connections were worth $286,518,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WCN. Dynamic Technology Lab Private Ltd purchased a new position in Waste Connections during the third quarter worth about $1,911,000. Trium Capital LLP purchased a new stake in shares of Waste Connections in the 4th quarter valued at about $1,995,000. Procyon Advisors LLC bought a new stake in shares of Waste Connections during the 4th quarter valued at about $1,908,000. Gradient Investments LLC grew its holdings in shares of Waste Connections by 18.5% during the fourth quarter. Gradient Investments LLC now owns 145,595 shares of the business services provider’s stock worth $25,532,000 after purchasing an additional 22,722 shares in the last quarter. Finally, Nicholas Company Inc. grew its holdings in shares of Waste Connections by 32.4% during the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock worth $78,756,000 after purchasing an additional 109,950 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of recent analyst reports. Barclays set a $180.00 target price on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Wolfe Research assumed coverage on shares of Waste Connections in a research report on Friday, March 13th. They set an “outperform” rating and a $199.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.84.

Insider Buying and Selling

In other Waste Connections news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $152.24 per share, with a total value 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. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the sale, the chief operating officer owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,605 shares of company stock worth $2,822,923 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $168.93 on Friday. The stock’s 50-day moving average is $157.67 and its 200 day moving average is $163.94. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of 41.20, a P/E/G ratio of 3.00 and a beta of 0.49. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $191.91. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 5.49 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s payout ratio is presently 34.15%.

Waste Connections Profile

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.