King Luther Capital Management Corp Cuts Stake in Waste Connections, Inc. (NYSE:WCN)

King Luther Capital Management Corp decreased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,134,338 shares of the business services provider’s stock after selling 6,619 shares during the quarter. King Luther Capital Management Corp owned about 0.44% of Waste Connections worth $198,918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Waste Connections by 0.3% in the first quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock worth $4,902,110,000 after purchasing an additional 88,137 shares during the last quarter. TD Asset Management Inc increased its stake in Waste Connections by 9.8% in the 4th quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock worth $856,641,000 after acquiring an additional 509,929 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Waste Connections by 43.4% during the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after acquiring an additional 1,320,933 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Waste Connections by 7.3% during the fourth quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock valued at $612,605,000 after purchasing an additional 280,275 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in shares of Waste Connections by 8.3% in 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 acquiring an additional 193,787 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Connections

In other news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the transaction, the chief financial officer now owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Susan Netherton sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total transaction of $358,260.00. Following the transaction, the senior vice president now owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is currently owned by corporate insiders.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $179.22 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock’s fifty day moving average price is $181.88 and its 200-day moving average price is $173.29. The firm has a market cap of $46.24 billion, a P/E ratio of 58.19, a P/E/G ratio of 2.96 and a beta of 0.72. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $187.54.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.64%. Waste Connections’s dividend payout ratio is currently 37.01%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Connections in a research note on Thursday, May 23rd. They issued a “buy” rating and a $189.00 target price on the stock. Raymond James lifted their price target on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. BMO Capital Markets upped their price target on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Truist Financial raised their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average price target of $187.28.

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.