Impax Asset Management Group plc Invests $54.80 Million in Waste Connections, Inc. (NYSE:WCN)

Impax Asset Management Group plc purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 309,885 shares of the business services provider’s stock, valued at approximately $54,800,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC bought a new position in shares of Waste Connections during the 3rd quarter valued at approximately $36,000. Asset Dedication LLC bought a new position in Waste Connections during the third quarter valued at $41,000. Pathway Financial Advisers LLC bought a new position in Waste Connections during the first quarter valued at $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections in the second quarter worth $45,000. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of Waste Connections by 3,885.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after buying an additional 272 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Waste Connections stock opened at $177.64 on Tuesday. The stock has a market cap of $45.84 billion, a P/E ratio of 48.80, a price-to-earnings-growth ratio of 2.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.77. Waste Connections, Inc. has a fifty-two week low of $129.31 and a fifty-two week high of $187.54. The firm’s fifty day moving average price is $181.14 and its 200-day moving average price is $175.73.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.71%. Waste Connections’s payout ratio is presently 31.32%.

Insider Buying and Selling at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at $778,428.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen lifted their price objective on Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup lifted their target price on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Raymond James dropped their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $195.56.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.