Hexagon Capital Partners LLC Buys 86 Shares of Waste Connections, Inc. (NYSE:WCN)

Hexagon Capital Partners LLC boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 116.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160 shares of the business services provider’s stock after acquiring an additional 86 shares during the period. Hexagon Capital Partners LLC’s holdings in Waste Connections were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Waste Connections in the 4th quarter valued at $592,392,000. Royal Bank of Canada increased its stake in shares of Waste Connections by 20.5% in the 3rd quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after purchasing an additional 1,920,302 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Waste Connections by 43.4% in the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock valued at $651,427,000 after purchasing an additional 1,320,933 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Waste Connections by 57.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock valued at $522,988,000 after purchasing an additional 1,281,418 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Waste Connections by 235.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock valued at $172,240,000 after purchasing an additional 809,914 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Insider Activity

In other news, Director Michael W. Harlan sold 1,500 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the transaction, the director now directly owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction that occurred 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 directly owns 5,321 shares of the company’s stock, valued at approximately $899,249. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.59, for a total value 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 disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock valued at $752,385 in the last ninety days. 0.31% of the stock is owned by company insiders.

Waste Connections Stock Up 0.7 %

Shares of NYSE:WCN opened at $175.09 on Wednesday. The company has a market capitalization of $45.18 billion, a price-to-earnings ratio of 56.85, a P/E/G ratio of 2.80 and a beta of 0.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50-day moving average is $167.35 and its 200-day moving average is $162.72. Waste Connections, Inc. has a 1 year low of $126.12 and a 1 year high of $177.25.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. Equities research analysts predict that Waste Connections, Inc. will post 4.85 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Tuesday, May 7th. Waste Connections’s dividend payout ratio is 37.01%.

Wall Street Analyst Weigh In

WCN has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Waste Connections from $195.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada reduced their price objective on Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Oppenheimer boosted their price objective on Waste Connections from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Finally, StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and an average target price of $179.94.

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.