The boss is buying — and buying big.
On May 12, 2026, Ronald Mittelstaedt, CEO of Waste Connections (WCN), purchased 50,000 shares of his own company. Price: $152 per share. Total value: $7.6 million. This isn't a symbolic gesture — it's the largest insider purchase the company has seen since 2017.
The Story Behind the Buy
Waste Connections is a $40 billion waste management company operating across the U.S. and Canada. Not the sexiest industry, but highly profitable. The stock trades today at $155 — Mittelstaedt bought at $152. That's interesting, because CEOs typically buy either at deep discounts (when they believe the stock is undervalued) or ahead of major announcements.
Mittelstaedt isn't just any CEO. He's the founder. He's been with the company since 1997. When he puts $7.6 million of his own money into the stock, that sends a clear message: he believes the stock is going higher.
What This Means for You
Insider buying is one of the strongest signals in the market. When someone who knows everything about a company — the financials, the strategy, the upcoming quarterly results — bets with their own money, people pay attention.
With Waste Connections, there are additional factors:
- The waste business is recession-proof (people always produce trash)
- The company grows consistently through acquisitions of smaller competitors
- The stock is up 42% over the last 12 months — and the CEO is still buying
How Professionals Are Reacting
Large investors pay special attention to the size of insider buys. $7.6 million is no ordinary position. That's nearly 20% more shares than Mittelstaedt owned before. Purchases this large typically happen when:
- The CEO knows the next quarter will be exceptional
- The company is preparing for a major acquisition
- The market is mispricing the stock
Additionally, other executives at the firm have also been buying in recent weeks — another positive signal.
First Steps for Beginners
When learning to track insider buying, focus on:
- Size of transaction: Small buys can be symbolic, large buys (over $1 million) are serious signals
- Who's buying: CEOs and founders know the company best
- Timing: Is the insider buying on dips or at highs? With Waste Connections, the CEO bought near all-time highs — that shows extreme confidence
Important: Insider buying is not a guarantee of rising prices, but it shows you that someone with full visibility is willing to risk real money.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results.