Oregon Public Employees Retirement Fund Makes New $4.52 Million Investment in Waste Connections Inc (NYSE:WCN)

Oregon Public Employees Retirement Fund bought a new position in Waste Connections Inc (NYSE:WCN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 47,300 shares of the business services provider’s stock, valued at approximately $4,521,000.

A number of other hedge funds also recently modified their holdings of WCN. Oppenheimer Asset Management Inc. boosted its stake in shares of Waste Connections by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,385 shares of the business services provider’s stock valued at $211,000 after purchasing an additional 123 shares in the last quarter. Allstate Corp boosted its stake in shares of Waste Connections by 0.5% during the first quarter. Allstate Corp now owns 28,753 shares of the business services provider’s stock valued at $2,547,000 after purchasing an additional 133 shares in the last quarter. ETF Managers Group LLC boosted its stake in shares of Waste Connections by 8.9% during the first quarter. ETF Managers Group LLC now owns 2,003 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 164 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Waste Connections by 24.5% during the first quarter. Signaturefd LLC now owns 854 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 168 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Waste Connections by 44.7% during the first quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 83.25% of the company’s stock.

WCN has been the topic of a number of recent research reports. AltaCorp Capital downgraded shares of Waste Connections from an “outperform” rating to a “sector perform” rating in a research note on Thursday, April 25th. TD Securities increased their price objective on shares of Waste Connections from $88.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Stifel Nicolaus upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and increased their price objective for the company from $88.00 to $105.00 in a research note on Thursday, April 25th. Scotiabank began coverage on shares of Waste Connections in a research report on Tuesday, April 23rd. They set an “outperform” rating and a $89.25 target price for the company. Finally, UBS Group increased their target price on shares of Waste Connections from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Waste Connections has a consensus rating of “Buy” and a consensus price target of $96.69.

NYSE:WCN traded down $0.45 during midday trading on Thursday, reaching $90.27. 344,935 shares of the stock traded hands, compared to its average volume of 637,984. Waste Connections Inc has a 12-month low of $70.28 and a 12-month high of $97.93. The firm has a 50-day moving average price of $95.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $24.83 billion, a PE ratio of 35.82, a PEG ratio of 2.77 and a beta of 0.21.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.69. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Waste Connections had a net margin of 10.82% and a return on equity of 10.65%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. Equities analysts forecast that Waste Connections Inc will post 2.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be issued a $0.16 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.71%. Waste Connections’s dividend payout ratio is currently 25.40%.

About Waste Connections

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.

Further Reading: Inflation

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

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