Wahed Invest LLC Increases Stake in Waste Connections, Inc. (NYSE:WCN)

Wahed Invest LLC boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 37.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,831 shares of the business services provider’s stock after purchasing an additional 777 shares during the quarter. Wahed Invest LLC’s holdings in Waste Connections were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its holdings in Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Waste Connections in the first quarter valued at approximately $32,000. Rational Advisors LLC purchased a new stake in shares of Waste Connections in the first quarter valued at approximately $53,000. Sands Capital Management LLC boosted its stake in shares of Waste Connections by 76.6% in the fourth quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock worth $56,000 after acquiring an additional 164 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Waste Connections in the fourth quarter worth approximately $61,000. Institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WCN. 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 on the stock. CIBC boosted their price objective on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a report on Friday, July 26th. Truist Financial upped their price target on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets increased their price objective on Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Raymond James increased their price objective on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and a consensus target price of $187.28.

Insider Activity

In related news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Nielsen III sold 2,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were 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 directly 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 20,800 shares of company stock worth $3,654,600. Insiders own 0.31% of the company’s stock.

Waste Connections Stock Up 0.4 %

Shares of NYSE WCN traded up $0.68 during mid-day trading on Friday, reaching $179.49. The company had a trading volume of 1,058,688 shares, compared to its average volume of 908,445. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $46.31 billion, a PE ratio of 58.28, a price-to-earnings-growth ratio of 2.84 and a beta of 0.72. Waste Connections, Inc. has a twelve month low of $126.12 and a twelve month high of $182.99. The stock’s 50 day moving average is $173.55 and its 200-day moving average is $167.46.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. As a group, equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is currently 37.01%.

Waste Connections 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.