Korea Investment CORP Increases Stake in Waste Connections, Inc. (WCN)

Korea Investment CORP lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,041 shares of the business services provider’s stock after acquiring an additional 1,150 shares during the period. Korea Investment CORP’s holdings in Waste Connections were worth $3,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Davis & CO. Inc. grew its position in shares of Waste Connections by 55.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock worth $101,000 after acquiring an additional 559 shares during the last quarter. Independent Portfolio Consultants Inc. grew its position in shares of Waste Connections by 10.1% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock worth $118,000 after acquiring an additional 168 shares during the last quarter. Fieldpoint Private Securities LLC grew its position in shares of Waste Connections by 50.0% during the second quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock worth $136,000 after acquiring an additional 702 shares during the last quarter. US Bancorp DE grew its position in shares of Waste Connections by 14.3% during the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock worth $140,000 after acquiring an additional 271 shares during the last quarter. Finally, Creative Planning grew its position in shares of Waste Connections by 223.5% during the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after acquiring an additional 1,656 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

In other news, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total transaction of $399,318.75. Following the completion of the transaction, the chief operating officer now owns 101,292 shares of the company’s stock, valued at approximately $7,190,719.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Davis sold 700 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

A number of research firms recently weighed in on WCN. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Monday, July 31st. Barclays PLC lifted their price objective on shares of Waste Connections from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective on shares of Waste Connections in a research report on Tuesday, August 29th. TD Securities lifted their price objective on shares of Waste Connections from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, Oppenheimer Holdings, Inc. lifted their price objective on shares of Waste Connections from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $77.87.

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Waste Connections, Inc. (NYSE:WCN) opened at $69.62 on Friday. Waste Connections, Inc. has a one year low of $48.78 and a one year high of $74.20. The firm has a market cap of $18,354.69, a PE ratio of 33.20, a P/E/G ratio of 4.14 and a beta of 0.18. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. equities analysts expect that Waste Connections, Inc. will post 2.13 earnings per share for the current fiscal year.

Waste Connections declared that its board has approved a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback 13,180,000 shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s dividend payout ratio is currently 36.36%.

Waste Connections Company Profile

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

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

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