Asset Dedication LLC Buys Shares of 230 Waste Connections, Inc. (NYSE:WCN)

Asset Dedication LLC bought a new position in Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 230 shares of the business services provider’s stock, valued at approximately $41,000.

A number of other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Waste Connections by 1,167.4% in the second quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock worth $83,020,000 after buying an additional 436,067 shares during the last quarter. Zurich Insurance Group Ltd FI grew its position in shares of Waste Connections by 438.5% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 535,471 shares of the business services provider’s stock valued at $92,106,000 after acquiring an additional 436,041 shares during the period. Nicholas Company Inc. bought a new stake in shares of Waste Connections during the 2nd quarter valued at $64,176,000. Sei Investments Co. increased its stake in shares of Waste Connections by 252.5% in the 2nd quarter. Sei Investments Co. now owns 510,243 shares of the business services provider’s stock worth $89,477,000 after purchasing an additional 365,487 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Waste Connections by 4,567.2% during the second quarter. Assenagon Asset Management S.A. now owns 253,567 shares of the business services provider’s stock valued at $44,466,000 after purchasing an additional 248,134 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Insider Activity 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 shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Mary Anne Whitney sold 16,300 shares of the 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the business’s stock in a transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,600 shares of company stock worth $3,842,550. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

WCN has been the subject of several analyst reports. Raymond James increased their target price on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on shares of Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Truist Financial increased their price target on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Eight Capital upgraded Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $194.00.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $182.42 on Friday. The firm has a fifty day simple moving average of $182.09 and a two-hundred day simple moving average of $174.65. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $187.54. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $47.07 billion, a P/E ratio of 59.23, a PEG ratio of 2.90 and a beta of 0.72.

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

Waste Connections Announces Dividend

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

Waste Connections 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.