Mount Yale Investment Advisors LLC Decreases Stock Position in Waste Connections, Inc. (NYSE:WCN)

Mount Yale Investment Advisors LLC trimmed its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 26.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,787 shares of the business services provider’s stock after selling 3,528 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Waste Connections were worth $1,716,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WCN. Hexagon Capital Partners LLC grew its position in shares of Waste Connections by 116.2% during the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after buying an additional 86 shares in the last quarter. OFI Invest Asset Management acquired a new position in Waste Connections during the 1st quarter worth approximately $32,000. Pathway Financial Advisers LLC purchased a new stake in shares of Waste Connections in the 1st quarter valued at approximately $43,000. Signature Resources Capital Management LLC acquired a new stake in shares of Waste Connections in the 2nd quarter valued at $45,000. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Waste Connections by 3,885.7% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on WCN shares. JPMorgan Chase & Co. increased their target price on Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, July 29th. BMO Capital Markets increased their price objective on Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, July 26th. TD Cowen boosted their target price on Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price target on Waste Connections from $195.00 to $199.00 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 report on Thursday, July 11th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.28.

Insider Transactions at Waste Connections

In other 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 transaction of $180,150.00. Following the transaction, the senior vice president now directly owns 4,321 shares in the company, valued at $778,428.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the transaction, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,600 shares of company stock worth $3,842,550. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $179.15 on Monday. The firm has a market cap of $46.22 billion, a P/E ratio of 58.17, a P/E/G ratio of 2.96 and a beta of 0.72. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. The business’s 50-day moving average price is $181.85 and its 200 day moving average price is $173.46. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97.

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

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were given 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 yield of 0.64%. Waste Connections’s payout ratio is currently 37.01%.

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.