TD Asset Management Inc. Buys 54,157 Shares of Waste Connections Inc (NYSE:WCN)
TD Asset Management Inc. raised its stake in Waste Connections Inc (NYSE:WCN) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,327,644 shares of the business services provider’s stock after acquiring an additional 54,157 shares during the quarter. Waste Connections comprises 0.8% of TD Asset Management Inc.’s holdings, making the stock its 24th largest position. TD Asset Management Inc. owned 2.02% of Waste Connections worth $509,942,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new stake in Waste Connections in the second quarter valued at approximately $634,000. Signaturefd LLC boosted its position in Waste Connections by 42.2% in the second quarter. Signaturefd LLC now owns 1,214 shares of the business services provider’s stock valued at $116,000 after buying an additional 360 shares in the last quarter. Advisor Group Inc. boosted its position in Waste Connections by 1.0% in the second quarter. Advisor Group Inc. now owns 20,854 shares of the business services provider’s stock valued at $1,994,000 after buying an additional 204 shares in the last quarter. Aperio Group LLC boosted its position in Waste Connections by 3.4% in the second quarter. Aperio Group LLC now owns 75,902 shares of the business services provider’s stock valued at $7,255,000 after buying an additional 2,529 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its position in Waste Connections by 65.1% in the second quarter. Intact Investment Management Inc. now owns 145,616 shares of the business services provider’s stock valued at $18,174,000 after buying an additional 57,400 shares in the last quarter. 83.03% of the stock is currently owned by hedge funds and other institutional investors.
In other Waste Connections news, COO Darrell W. Chambliss sold 14,100 shares of Waste Connections stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $89.55, for a total value of $1,262,655.00. Following the completion of the sale, the chief operating officer now directly owns 104,100 shares of the company’s stock, valued at $9,322,155. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James Little sold 10,000 shares of Waste Connections stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $89.74, for a total transaction of $897,400.00. Following the completion of the sale, the vice president now directly owns 20,280 shares of the company’s stock, valued at $1,819,927.20. The disclosure for this sale can be found here. Insiders have sold 52,600 shares of company stock valued at $4,766,745 in the last three months. 0.30% of the stock is owned by insiders.
Waste Connections (NYSE:WCN) last announced its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.69. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $0.65 earnings per share. Waste Connections’s quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts expect that Waste Connections Inc will post 2.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 12th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, August 9th. Waste Connections’s dividend payout ratio is presently 25.40%.
A number of analysts have weighed in on WCN shares. CIBC restated a “market perform” rating on shares of Waste Connections in a research report on Thursday, July 18th. BMO Capital Markets set a $105.00 price target on shares of Waste Connections and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James raised their price target on shares of Waste Connections from $105.00 to $106.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. Finally, Scotiabank started coverage on shares of Waste Connections in a research note on Tuesday, April 23rd. They set an “outperform” rating and a $89.25 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $96.40.
Waste Connections Profile
Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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