Legacy Capital Partners Inc. boosted its position in shares of Waste Connections Inc (NYSE:WCN) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,829 shares of the business services provider’s stock after buying an additional 380 shares during the period. Legacy Capital Partners Inc.’s holdings in Waste Connections were worth $557,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cable Hill Partners LLC boosted its stake in shares of Waste Connections by 325.6% in the first quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock valued at $50,000 after buying an additional 433 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Waste Connections by 44.7% in the first quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock valued at $55,000 after buying an additional 192 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Waste Connections by 77.5% in the first quarter. Flagship Harbor Advisors LLC now owns 742 shares of the business services provider’s stock valued at $65,000 after buying an additional 324 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Waste Connections by 24.5% in the first quarter. Signaturefd LLC now owns 854 shares of the business services provider’s stock valued at $76,000 after buying an additional 168 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Waste Connections by 67.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,080 shares of the business services provider’s stock valued at $96,000 after buying an additional 434 shares in the last quarter. 83.03% of the stock is currently owned by institutional investors.
In related news, insider Eric Hansen sold 5,500 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $90.00, for a total value of $495,000.00. Following the completion of the transaction, the insider now owns 5,144 shares of the company’s stock, valued at $462,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Razzouk sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $90.29, for a total value of $541,740.00. Following the sale, the director now owns 13,919 shares in the company, valued at approximately $1,256,746.51. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $4,766,745 in the last ninety days. Company insiders own 0.30% of the company’s stock.
Several equities analysts recently issued reports on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. TD Securities lifted their price objective on Waste Connections from $88.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Royal Bank of Canada set a $100.00 price objective on Waste Connections and gave the stock a “buy” rating in a report on Wednesday, July 31st. CIBC reaffirmed a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. assumed coverage on Waste Connections in a report on Wednesday, August 7th. They set an “overweight” rating and a $98.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Waste Connections presently has a consensus rating of “Buy” and an average price target of $96.40.
Waste Connections stock opened at $91.27 on Friday. The firm has a market capitalization of $24.54 billion, a P/E ratio of 36.22, a PEG ratio of 3.02 and a beta of 0.20. The stock has a fifty day moving average price of $94.25 and a 200 day moving average price of $90.34. Waste Connections Inc has a 52 week low of $70.28 and a 52 week high of $97.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.
Waste Connections (NYSE:WCN) last released its earnings results on Monday, July 29th. The business services provider reported $0.69 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.69. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, equities analysts predict that Waste Connections Inc will post 2.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, August 9th. Waste Connections’s payout ratio is 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.
Read More: Trading Strategy Examples and Plans
Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.