Waste Connections, Inc. (NYSE:WCN) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,854 shares of the business services provider’s stock after buying an additional 250 shares during the period. Allworth Financial LP’s holdings in Waste Connections were worth $868,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WCN. Vanguard Group Inc. boosted its stake in Waste Connections by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock valued at $4,902,110,000 after purchasing an additional 88,137 shares during the period. Bank of Montreal Can boosted its stake in Waste Connections by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 8,103,895 shares of the business services provider’s stock valued at $1,423,373,000 after purchasing an additional 178,870 shares during the period. Alphinity Investment Management Pty Ltd boosted its stake in Waste Connections by 8.3% during the 1st quarter. Alphinity Investment Management Pty Ltd now owns 2,516,867 shares of the business services provider’s stock valued at $432,926,000 after purchasing an additional 193,787 shares during the period. Fiera Capital Corp boosted its stake in Waste Connections by 0.7% during the 2nd quarter. Fiera Capital Corp now owns 2,189,251 shares of the business services provider’s stock valued at $384,268,000 after purchasing an additional 15,623 shares during the period. Finally, Legal & General Group Plc boosted its stake in Waste Connections by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 1,690,733 shares of the business services provider’s stock valued at $296,510,000 after purchasing an additional 71,681 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Waste Connections stock opened at $176.94 on Tuesday. The firm’s 50 day simple moving average is $181.84 and its 200-day simple moving average is $175.29. The company has a market cap of $45.66 billion, a P/E ratio of 52.98, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. Waste Connections, Inc. has a fifty-two week low of $128.41 and a fifty-two week high of $187.54.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. As a group, equities research analysts predict that Waste Connections, Inc. will post 4.82 EPS for the current year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be given a $0.315 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is 34.13%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. CIBC boosted their target price on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research note on Friday, July 26th. Raymond James dropped their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research report on Friday. TD Cowen boosted their price target on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer boosted their price target on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

Insider Transactions at Waste Connections

In related news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total transaction of $180,150.00. Following the transaction, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 10,078 shares of the company’s stock, valued at $1,805,272.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the sale, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at $778,428.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,600 shares of company stock valued at $3,842,550 over the last ninety days. Corporate 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.