Sei Investments Co. Grows Position in Waste Connections, Inc. (NYSE:WCN)

Sei Investments Co. grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 252.5% in the second quarter, HoldingsChannel.com reports. The fund owned 510,243 shares of the business services provider’s stock after purchasing an additional 365,487 shares during the period. Sei Investments Co.’s holdings in Waste Connections were worth $89,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WCN. First Affirmative Financial Network lifted its position in Waste Connections by 3.9% during the first quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 69 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Waste Connections by 8.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock valued at $161,000 after buying an additional 74 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Waste Connections by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock worth $1,047,000 after acquiring an additional 82 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Waste Connections by 2.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,182 shares of the business services provider’s stock worth $475,000 after acquiring an additional 83 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position 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. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 48,899 shares in the company, valued at $8,706,466.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the sale, the senior vice president now directly owns 1,226 shares in the company, valued at $214,243.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WCN shares. Truist Financial raised their price target on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Oppenheimer boosted their target price on Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. CIBC upped their target price on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, TD Cowen increased their target price on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $187.28.

Waste Connections Stock Down 0.0 %

NYSE WCN opened at $179.15 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $46.22 billion, a PE ratio of 58.17, a PEG ratio of 2.96 and a beta of 0.72. The business’s 50-day moving average is $181.85 and its 200 day moving average is $173.42. Waste Connections, Inc. has a 1 year low of $126.12 and a 1 year high of $187.54.

Waste Connections (NYSE:WCN) last issued 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. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm earned $1.02 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders 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 yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) is presently 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.