Ritholtz Wealth Management Boosts Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Ritholtz Wealth Management grew its position in Waste Connections, Inc. (NYSE:WCN) by 92.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,052 shares of the business services provider’s stock after purchasing an additional 2,901 shares during the period. Ritholtz Wealth Management’s holdings in Waste Connections were worth $1,082,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake 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 during the first quarter valued at approximately $32,000. Pathway Financial Advisers LLC bought a new stake in Waste Connections during the first quarter worth $43,000. Signature Resources Capital Management LLC bought a new stake in Waste Connections during the second quarter worth $45,000. Finally, Carolinas Wealth Consulting LLC grew its stake in Waste Connections by 3,885.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 272 shares during the period. 86.09% of the stock is owned by institutional investors.

Waste Connections Price Performance

NYSE:WCN opened at $182.16 on Tuesday. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. The stock has a fifty day moving average of $181.90 and a 200 day moving average of $174.47. 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 firm has a market capitalization of $47.00 billion, a price-to-earnings ratio of 59.14, a P/E/G ratio of 2.90 and a beta of 0.72.

Waste Connections (NYSE:WCN) last issued 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 company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. Waste Connections’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 earnings per share. On average, research analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is currently 37.01%.

Insider Transactions at Waste Connections

In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s 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 sale, the chief financial officer now owns 48,899 shares in the company, valued at $8,706,466.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the sale, the senior vice president now directly owns 10,078 shares in the company, valued at $1,805,272.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 completion of the transaction, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,600 shares of company stock valued at $3,842,550. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WCN. CIBC boosted their price target on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a report on Friday, July 26th. BMO Capital Markets increased their target price on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Oppenheimer lifted their price target on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Scotiabank began coverage on Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price objective for the company. Finally, Eight Capital upgraded Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.53.

About Waste Connections

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.