Accel Wealth Management Purchases New Position in Waste Connections, Inc. (NYSE:WCN)

Accel Wealth Management purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the first quarter, Holdings Channel reports. The institutional investor purchased 1,181 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other institutional investors also recently modified their holdings of the business. LPL Financial LLC increased its holdings in Waste Connections by 55.3% during the 3rd quarter. LPL Financial LLC now owns 27,950 shares of the business services provider’s stock worth $3,754,000 after acquiring an additional 9,956 shares during the period. Mariner LLC increased its holdings in shares of Waste Connections by 43.6% in the 3rd quarter. Mariner LLC now owns 8,110 shares of the business services provider’s stock worth $1,089,000 after buying an additional 2,461 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Waste Connections by 4.7% in the 3rd quarter. AQR Capital Management LLC now owns 49,668 shares of the business services provider’s stock worth $6,670,000 after buying an additional 2,225 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Waste Connections by 17.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,634 shares of the business services provider’s stock valued at $1,562,000 after purchasing an additional 1,727 shares during the last quarter. Finally, AXQ Capital LP bought a new position in shares of Waste Connections during the 3rd quarter valued at $215,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, 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 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 approximately $1,049,286. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction that occurred 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 completion of the sale, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,500 shares of company stock worth $752,385. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WCN has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Connections in a report on Thursday, May 23rd. They set a “buy” rating and a $189.00 target price on the stock. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. CIBC increased their price target on shares of Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday. Oppenheimer increased their price target on shares of Waste Connections from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets increased their price target on shares of Waste Connections from $182.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.69.

Waste Connections Stock Up 1.4 %

Shares of Waste Connections stock opened at $177.52 on Friday. 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 company has a 50-day moving average of $168.01 and a 200 day moving average of $163.13. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 57.64, a PEG ratio of 2.83 and a beta of 0.72. Waste Connections, Inc. has a 1 year low of $126.12 and a 1 year high of $177.87.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. Waste Connections’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 4.85 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.285 per share. The ex-dividend date was Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.64%. Waste Connections’s dividend payout ratio is currently 37.01%.

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.