Net Worth Advisory Group Purchases New Position in Waste Connections, Inc. (NYSE:WCN)

Net Worth Advisory Group acquired a new position in Waste Connections, Inc. (NYSE:WCN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,648 shares of the business services provider’s stock, valued at approximately $295,000.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in shares of 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 during the period. OFI Invest Asset Management bought a new position in Waste Connections in the 1st quarter worth about $32,000. Asset Dedication LLC purchased a new position in Waste Connections during the 3rd quarter valued at about $41,000. Pathway Financial Advisers LLC bought a new stake in shares of Waste Connections during the first quarter valued at about $43,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Waste Connections in the second quarter worth about $45,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $182.60 on Monday. The company’s fifty day moving average is $182.13 and its 200 day moving average is $174.82. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $187.54. The stock has a market cap of $47.11 billion, a PE ratio of 59.29, a PEG ratio of 2.90 and a beta of 0.72.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate 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 return on equity of 15.16% and a net margin of 10.23%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 earnings per share. Research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WCN. TD Cowen upped their target price on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, July 26th. BMO Capital Markets upped their price target on shares of Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Scotiabank initiated coverage on Waste Connections in a research note on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, CIBC raised their price target on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Insider Transactions at Waste Connections

In related news, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other 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 value of $2,902,215.00. Following the sale, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the transaction, the senior vice president now owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,600 shares of company stock worth $3,842,550. Insiders own 0.31% of the company’s stock.

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.