Waste Connections, Inc. (NYSE:WCN) Shares Acquired by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. grew its stake in Waste Connections, Inc. (NYSE:WCNFree Report) by 33.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,050 shares of the business services provider’s stock after purchasing an additional 765 shares during the period. Godshalk Welsh Capital Management Inc.’s holdings in Waste Connections were worth $455,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WCN. Norges Bank acquired a new position in shares of Waste Connections in the fourth quarter valued at approximately $592,392,000. Royal Bank of Canada boosted its stake in shares of Waste Connections by 20.5% in the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after buying an additional 1,920,302 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Waste Connections by 57.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock valued at $522,988,000 after buying an additional 1,281,418 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Waste Connections by 235.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock valued at $172,240,000 after buying an additional 809,914 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Waste Connections by 35.0% in the third quarter. Montrusco Bolton Investments Inc. now owns 2,436,123 shares of the business services provider’s stock valued at $319,336,000 after buying an additional 631,724 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WCN. Stifel Nicolaus lifted their price target on Waste Connections from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Jefferies Financial Group lifted their price target on Waste Connections from $195.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Oppenheimer lifted their price target on Waste Connections from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price target on Waste Connections from $153.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.94.

Check Out Our Latest Stock Report on WCN

Insider Activity at Waste Connections

In related news, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the transaction, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $166.00, for a total value of $332,000.00. Following the completion of the sale, the senior vice president now owns 6,321 shares of the company’s stock, valued at $1,049,286. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael W. Harlan sold 1,500 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the transaction, the director now directly owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Waste Connections Price Performance

Shares of NYSE WCN traded up $0.91 during trading on Friday, reaching $165.47. The company had a trading volume of 394,587 shares, compared to its average volume of 802,583. The stock has a market capitalization of $42.69 billion, a PE ratio of 53.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.67. The stock has a 50-day moving average price of $167.06 and a two-hundred day moving average price of $156.54. Waste Connections, Inc. has a twelve month low of $126.12 and a twelve month high of $173.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCNGet Free Report) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. As a group, sell-side analysts predict that Waste Connections, Inc. will post 4.85 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were paid a $0.285 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.14 annualized dividend and a yield of 0.69%. Waste Connections’s payout ratio is currently 37.01%.

Waste Connections Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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