Caldera Capital LLC Acquires New Stake in Waste Connections, Inc. (WCN)

Caldera Capital LLC acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 74,614 shares of the business services provider’s stock, valued at approximately $4,806,000. Waste Connections comprises about 4.5% of Caldera Capital LLC’s portfolio, making the stock its 8th largest holding.

Several other large investors also recently made changes to their positions in WCN. Oppenheimer & Co. Inc. raised its stake in Waste Connections by 2.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,750 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 60 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Waste Connections by 0.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,400 shares of the business services provider’s stock valued at $1,272,000 after purchasing an additional 100 shares during the period. Coe Capital Management LLC raised its stake in Waste Connections by 0.7% during the 1st quarter. Coe Capital Management LLC now owns 19,920 shares of the business services provider’s stock valued at $1,757,000 after purchasing an additional 140 shares during the period. World Asset Management Inc raised its stake in Waste Connections by 1.4% during the 1st quarter. World Asset Management Inc now owns 10,928 shares of the business services provider’s stock valued at $964,000 after purchasing an additional 148 shares during the period. Finally, Independent Portfolio Consultants Inc. raised its stake in Waste Connections by 10.1% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 168 shares during the period. Institutional investors own 82.81% of the company’s stock.

In other Waste Connections news, insider James Little sold 3,000 shares of Waste Connections stock in a transaction on Monday, July 31st. The shares were sold at an average price of $64.81, for a total value of $194,430.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Worthing Jackman sold 30,000 shares of Waste Connections stock in a transaction on Friday, July 28th. The shares were sold at an average price of $65.00, for a total transaction of $1,950,000.00. The disclosure for this sale can be found here. Insiders sold a total of 69,500 shares of company stock worth $4,521,285 over the last ninety days. 0.68% of the stock is currently owned by insiders.

Several brokerages have issued reports on WCN. Royal Bank Of Canada boosted their target price on shares of Waste Connections from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Monday, July 31st. Barclays PLC boosted their target price on shares of Waste Connections from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price on shares of Waste Connections in a research note on Tuesday, August 29th. Finally, Raymond James Financial, Inc. boosted their target price on shares of Waste Connections from $74.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Waste Connections presently has an average rating of “Buy” and a consensus price target of $71.48.

Waste Connections, Inc. (NYSE:WCN) traded up 0.53% during trading on Friday, hitting $69.59. 930,263 shares of the stock were exchanged. The stock has a 50 day moving average price of $65.66 and a 200-day moving average price of $62.65. Waste Connections, Inc. has a 12-month low of $47.81 and a 12-month high of $69.80. The firm has a market capitalization of $18.33 billion, a PE ratio of 59.18 and a beta of 0.24.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The firm’s revenue was up 61.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post $2.13 earnings per share for the current fiscal year.

Waste Connections announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that allows the company to repurchase 13,180,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were given a $0.12 dividend. The ex-dividend date was Friday, August 4th. This represents a $0.48 annualized dividend and a yield of 0.69%. Waste Connections’s dividend payout ratio is currently 32.11%.

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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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