Zions Bancorporation N.A. Has $194,000 Stake in Waste Connections, Inc. (NYSE:WCN)

Zions Bancorporation N.A. grew its stake in Waste Connections, Inc. (NYSE:WCN) by 1,144.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,108 shares of the business services provider’s stock after purchasing an additional 1,019 shares during the quarter. Zions Bancorporation N.A.’s holdings in Waste Connections were worth $194,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WCN. Hexagon Capital Partners LLC raised 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 buying an additional 86 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Waste Connections in the first quarter valued at about $32,000. Pathway Financial Advisers LLC bought a new position in shares of Waste Connections during the first quarter valued at about $43,000. Signature Resources Capital Management LLC purchased a new position in Waste Connections during the second quarter worth about $45,000. Finally, Sands Capital Management LLC grew its position in Waste Connections by 76.6% in the 4th quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock worth $56,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WCN. BMO Capital Markets boosted their target price on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Raymond James upped their price objective on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their target price on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Connections in a report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective for the company. Finally, Truist Financial increased their target price on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.28.

Insider Activity at Waste Connections

In other news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Susan Netherton sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total value of $358,260.00. Following the completion of the transaction, the senior vice president now directly owns 10,078 shares in the company, valued at $1,805,272.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the sale, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,600 shares of company stock valued at $3,842,550. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN opened at $185.68 on Friday. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. The stock’s 50-day simple moving average is $181.70 and its 200 day simple moving average is $172.93. 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 $47.91 billion, a price-to-earnings ratio of 60.29, a price-to-earnings-growth ratio of 2.96 and a beta of 0.72.

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

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were issued a $0.285 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.61%. Waste Connections’s 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.