Waste Connections, Inc. (NYSE:WCN) Stock Position Reduced by Bamco Inc. NY

Bamco Inc. NY lessened its position in shares of Waste Connections, Inc. (NYSE:WCN) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 350,000 shares of the business services provider’s stock after selling 25,000 shares during the period. Bamco Inc. NY’s holdings in Waste Connections were worth $60,204,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. First Affirmative Financial Network lifted its holdings in shares of Waste Connections by 3.9% in the 1st quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock worth $317,000 after purchasing an additional 69 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Waste Connections by 0.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,844 shares of the business services provider’s stock worth $1,321,000 after purchasing an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Waste Connections by 2.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,182 shares of the business services provider’s stock valued at $475,000 after acquiring an additional 83 shares during the period. Traynor Capital Management Inc. increased its position in Waste Connections by 4.7% in the 4th quarter. Traynor Capital Management Inc. now owns 1,895 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 85 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in Waste Connections by 116.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Up 0.1 %

Shares of Waste Connections stock traded up $0.18 during midday trading on Friday, hitting $175.66. The company’s stock had a trading volume of 1,140,068 shares, compared to its average volume of 931,511. The firm has a market capitalization of $45.32 billion, a P/E ratio of 57.03, a PEG ratio of 2.91 and a beta of 0.72. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $182.99. The company has a quick ratio of 0.75, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock has a 50-day simple moving average of $172.59 and a 200-day simple moving average of $166.92.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 earnings per share. As a group, sell-side analysts expect that Waste Connections, Inc. will post 4.81 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.65%. Waste Connections’s payout ratio is 37.01%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BMO Capital Markets raised their target price on Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James lifted their price target on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Connections in a research note on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective for the company. StockNews.com raised Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Finally, Oppenheimer raised their price objective on Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and an average target price of $186.00.

Insider Activity at Waste Connections

In related news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the sale, the senior vice president now owns 6,321 shares of the company’s stock, valued at $1,049,286. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Waste Connections news, Director Michael W. Harlan sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the transaction, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert Nielsen III sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the transaction, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,500 shares of company stock valued at $752,385. Insiders own 0.31% of the company’s stock.

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.