Waste Connections, Inc. (NYSE:WCN) Stake Trimmed by Onex Canada Asset Management Inc.

Onex Canada Asset Management Inc. lowered its stake in Waste Connections, Inc. (NYSE:WCN – Free Report) by 57.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,721 shares of the business services provider’s stock after selling 69,863 shares during the quarter. Onex Canada Asset Management Inc.’s holdings in Waste Connections were worth $7,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WCN. Royal Bank of Canada grew its stake in Waste Connections by 20.5% during the 3rd 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 acquiring an additional 1,920,302 shares in the last quarter. TD Asset Management Inc grew its stake in Waste Connections by 9.8% during the 4th quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock valued at $856,641,000 after acquiring an additional 509,929 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Waste Connections by 7.3% during the 4th quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock valued at $612,605,000 after acquiring an additional 280,275 shares in the last quarter. Norges Bank purchased a new position in Waste Connections during the 4th quarter valued at about $592,392,000. Finally, Mackenzie Financial Corp grew its stake in Waste Connections by 57.7% during the 4th quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock valued at $522,988,000 after acquiring an additional 1,281,418 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insiders Place Their Bets

In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total value of $332,000.00. Following the transaction, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at approximately $1,049,286. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael W. Harlan sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert Nielsen III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the sale, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock valued at $752,385 in the last three months. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WCN shares. Royal Bank of Canada lowered their target price on Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. StockNews.com raised Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. BMO Capital Markets lifted their price target on Waste Connections from $182.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft began coverage on Waste Connections in a report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price target for the company. Finally, UBS Group lowered Waste Connections from a “buy” rating to a “neutral” rating and lifted their price target for the company from $170.00 to $181.00 in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $179.94.

View Our Latest Report on Waste Connections

Waste Connections Stock Performance

Shares of NYSE WCN opened at $168.61 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. The business’s 50 day moving average is $165.63 and its two-hundred day moving average is $159.78. The company has a market cap of $43.50 billion, a P/E ratio of 54.74, a P/E/G ratio of 2.66 and a beta of 0.70. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $173.02.

Waste Connections (NYSE:WCN – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. On average, equities analysts expect that Waste Connections, Inc. will post 4.85 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 7th. Waste Connections’s dividend payout ratio is currently 37.01%.

About Waste Connections

(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.

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