Copeland Capital Management LLC, a prominent investment firm, saw a significant increase in its stake of Waste Connections, Inc. (NYSE:WCN) during the second quarter of this year. According to the company’s latest filing with the Securities and Exchange Commission (SEC), Copeland Capital Management LLC acquired an additional 45,655 shares of Waste Connections’ stock, representing a 57.2% increase in its position. At the end of the quarter, Copeland Capital Management LLC owned 125,470 shares of Waste Connections valued at $17,933,000.
Waste Connections has recently garnered attention from analysts who have provided their insights on the company. StockNews.com initiated coverage on Waste Connections and assigned a “hold” rating to the company on August 20th. Scotiabank also weighed in on the stock and raised its price target from $153.00 to $155.00 while giving it a “sector perform” rating on August 4th. In addition, Morgan Stanley increased its price objective from $164.00 to $171.00 and issued an “overweight” rating on August 4th. BMO Capital Markets also came forward and raised their target price from $160.00 to $162.00, providing an “outperform” rating on August 4th as well. Finally, JPMorgan Chase & Co., who already had an “overweight” rating for Waste Connections, increased their target price from $152.00 to $159.00 on August 4th. Overall, three analysts rate the stock as a hold, nine as a buy, and one has given it a strong buy rating based on Bloomberg data.
Shares of Waste Connections began trading at $137.59 on Friday morning.
The company’s financials demonstrate a debt-to-equity ratio of 0.90 along with current and quick ratios – both at 0.76. Waste Connections has a 50-day simple moving average of $140.20 and a 200-day simple moving average of $139.07. The stock’s price ranges from a low of $124.23 to a high of $146.12 over the past year, and the company currently boasts a market capitalization of $35.45 billion.
In terms of valuation, Waste Connections’ stock carries a price-to-earnings (P/E) ratio of 42.34 along with a P/E-to-growth (P/E/G) ratio of 3.01. The company also holds a beta factor of 0.67.
It is worth noting that investors should conduct thorough research and analysis before making any investment decisions as the information presented here is solely for informational purposes and not an endorsement or investment advice from our end.
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Institutional Investors and Hedge Funds Show Strong Interest in Waste Connections as Share Acquisitions Rise
Institutional investors and hedge funds have been making significant moves in the shares of Waste Connections (NYSE:WCN) as of late. West Oak Capital LLC recently acquired a new stake in the company during the first quarter, valued at approximately $28,000. Additionally, International Assets Investment Management LLC also acquired a new position in Waste Connections during the same period, with a value of $31,000.
Zions Bancorporation N.A., on the other hand, raised its stake in Waste Connections by 172.2% during the fourth quarter. The institution now owns 294 shares of the business services provider’s stock valued at $39,000 after adding an additional 186 shares to its holdings last quarter. Quent Capital LLC also lifted its holdings in Waste Connections significantly during the first quarter, now owning 356 shares worth $50,000 after acquiring an additional 352 shares.
Another notable move came from First Horizon Advisors Inc., which boosted its position in Waste Connections by 53.0% during the fourth quarter. First Horizon Advisors now owns 433 shares of the company’s stock valued at $57,000 after adding an additional 150 shares to their holdings over that period.
These acquisitions highlight the level of interest institutional investors and hedge funds currently hold towards Waste Connections, with these entities collectively holding approximately 85.02% of the company’s total stock.
In recent news related to Waste Connections, it was disclosed that VP James Little sold 3,200 shares of the firm’s stock on Friday, August 18th. The average price per share was $137.97, resulting in a total value of $441,504 for this transaction alone. Following this sale, Little currently holds around 26,210 shares directly within the company with a valuation totaling $3,616,193.
Analyzing analyst reports regarding Waste Connections proves to be quite intriguing as well. StockNews.com recently began covering shares of the company, offering a “hold” rating for prospective investors. On the other hand, Scotiabank increased its price target on Waste Connections from $153.00 to $155.00 while rating the stock as “sector perform” in their research note released on Friday, August 4th. Morgan Stanley also raised its price objective on Waste Connections from $164.00 to $171.00 and designated the stock with an “overweight” rating around that same period.
BMO Capital Markets were not left behind in this trend either and boosted their target price on Waste Connections from $160.00 to $162.00, accompanying it with an “outperform” rating based on information provided in their research note issued on Friday, August 4th. JPMorgan Chase & Co., meanwhile, bumped up their target price for shares of Waste Connections from $152.00 to $159.00 and offered an “overweight” rating as well.
With three analysts holding a hold rating and nine issuing buy ratings, there seems to be a general consensus among experts that investing in Waste Connections is a wise choice for potential investors. Bloomberg has reported that the consensus rating given to the company’s stock is presently labeled as “Moderate Buy,” accompanied by an average target price of $160.08.
Waste Connections recently disclosed its quarterly earnings data on Wednesday, August 2nd, having beaten analysts’ consensus estimates with earnings per share (EPS) amounting to $1.02 for the quarter — exceeding expectations by $0.01 per share.
The company’s quarterly revenue reached a total of $2.02 billion during this quarter, pleasantly surprising analyst predictions estimated at an already remarkable $2.01 billion mark.
Comparing these results with those of previous years is also important: last year during the same quarter, Waste Connections earned EPS of $1. Additionally, throughout this year, Waste Connections is expected to post 4.19 earnings per share for the current fiscal year, as predicted by sell-side analysts.
Furthermore, a quarterly dividend was recently announced by Waste Connections and paid to shareholders on Wednesday, August 30th. The specified dividend entitled stockholders of record as of Wednesday, August 16th, to receive a $0.255 dividend per share. When calculating the annualized dividend payment and yield, it amounted to $1.02 and 0.74% respectively. The ex-dividend date for this particular payout was scheduled for Tuesday, August 15th.
Currently, Waste Connections has a dividend payout ratio (DPR) of 31.38%, providing an additional layer of value for investors considering the company’s stock despite its modest yield.
In summary, institutional investors and hedge funds have demonstrated significant interest in Waste Connections by making substantial acquisitions of shares recently. VP James Little’s sale of company shares also made headlines with regards to insider trading activities.
Additionally, analyst reports have been mostly positive towards Waste Connections’ performance and stock potential with consensus ratings leaning towards a “Moderate Buy” opinion alongside multiple buy recommendations from different experts within the field.
Waste Connections’ recent quarterly earnings report showcased surpassing results compared to expectations and
