Catalytic Wealth RIA LLC Has $319,000 Holdings in Waste Connections, Inc. (NYSE:WCN)

Catalytic Wealth RIA LLC grew its position in shares of Waste Connections, Inc. (NYSE:WCN) by 30.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,854 shares of the business services provider’s stock after purchasing an additional 431 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Waste Connections were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WCN. Sei Investments Co. lifted its stake in shares of Waste Connections by 6.2% in the first quarter. Sei Investments Co. now owns 144,756 shares of the business services provider’s stock worth $24,899,000 after acquiring an additional 8,505 shares during the period. Norges Bank acquired a new position in shares of Waste Connections in the fourth quarter worth approximately $592,392,000. UBS Group AG increased its holdings in Waste Connections by 3.2% in the fourth quarter. UBS Group AG now owns 374,208 shares of the business services provider’s stock worth $55,858,000 after purchasing an additional 11,600 shares in the last quarter. Capstone Investment Advisors LLC increased its holdings in Waste Connections by 591.5% in the first quarter. Capstone Investment Advisors LLC now owns 9,881 shares of the business services provider’s stock worth $1,700,000 after purchasing an additional 8,452 shares in the last quarter. Finally, Simplicity Solutions LLC increased its holdings in Waste Connections by 114.2% in the fourth quarter. Simplicity Solutions LLC now owns 9,205 shares of the business services provider’s stock worth $1,374,000 after purchasing an additional 4,907 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $169.00, for a total transaction of $169,000.00. Following the sale, the senior vice president now directly owns 5,321 shares of the company’s stock, valued at approximately $899,249. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $169.00, for a total transaction of $169,000.00. Following the transaction, the senior vice president now owns 5,321 shares of the company’s stock, valued at approximately $899,249. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock valued at $752,385 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Waste Connections Price Performance

Shares of Waste Connections stock traded up $1.16 during trading hours on Monday, hitting $181.51. The company’s stock had a trading volume of 981,069 shares, compared to its average volume of 896,259. The business has a 50 day moving average price of $171.67 and a two-hundred day moving average price of $166.06. Waste Connections, Inc. has a 12-month low of $126.12 and a 12-month high of $182.99. The company has a market cap of $46.83 billion, a PE ratio of 58.93, a PEG ratio of 3.00 and a beta of 0.72. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.75 and a current ratio of 0.75.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that Waste Connections, Inc. will post 4.78 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 7th. Waste Connections’s payout ratio is 37.01%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WCN. CIBC lifted their target price on Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Raymond James lifted their target price on Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a report on Monday. Truist Financial lifted their target price on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on Waste Connections in a report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on Waste Connections from $182.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.12.

Waste Connections Company Profile

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.