First Trust Direct Indexing L.P. decreased its position in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,075 shares of the business services provider’s stock after selling 339 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Waste Connections were worth $729,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. American Trust grew its stake in shares of Waste Connections by 3.7% during the 2nd quarter. American Trust now owns 1,573 shares of the business services provider’s stock worth $276,000 after purchasing an additional 56 shares during the period. GAMMA Investing LLC grew its stake in shares of Waste Connections by 15.0% during the 3rd quarter. GAMMA Investing LLC now owns 529 shares of the business services provider’s stock worth $95,000 after purchasing an additional 69 shares during the period. First Horizon Advisors Inc. grew its stake 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 worth $161,000 after purchasing an additional 74 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake 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 purchasing an additional 82 shares during the period. Finally, CWM LLC grew its stake in shares of Waste Connections by 12.5% during the 2nd quarter. CWM LLC now owns 852 shares of the business services provider’s stock worth $149,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.
Analyst Upgrades and Downgrades
WCN has been the topic of a number of research analyst reports. Scotiabank initiated coverage on shares of Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. BMO Capital Markets dropped their price target on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Truist Financial lifted their price target on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Citigroup lifted their price target on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Six research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.
Waste Connections Stock Up 0.1 %
NYSE WCN opened at $176.96 on Friday. Waste Connections, Inc. has a 52 week low of $129.31 and a 52 week high of $187.54. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $181.32 and its 200-day simple moving average is $175.56. The firm has a market cap of $45.67 billion, a PE ratio of 48.62, a P/E/G ratio of 2.95 and a beta of 0.72.
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.
Waste Connections Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.315 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, November 7th. Waste Connections’s payout ratio is 31.32%.
Insider Activity at Waste Connections
In related news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Philip Rivard sold 2,300 shares of the business’s stock in a transaction dated 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 owns 1,226 shares in the company, valued at approximately $214,243.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
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.
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