Azzad Asset Management Inc. ADV Has $709,000 Position in Waste Connections, Inc. (NYSE:WCN)

Azzad Asset Management Inc. ADV reduced its position in shares of Waste Connections, Inc. (NYSE:WCN) by 13.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,964 shares of the business services provider’s stock after selling 597 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Waste Connections were worth $709,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 86 shares during the last quarter. OFI Invest Asset Management bought a new position in Waste Connections during the 1st quarter valued at about $32,000. Pathway Financial Advisers LLC bought a new position in shares of Waste Connections in the first quarter worth about $43,000. Signature Resources Capital Management LLC bought a new position in shares of Waste Connections in the second quarter worth about $45,000. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of Waste Connections by 3,885.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after acquiring an additional 272 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Up 1.7 %

Shares of NYSE WCN opened at $179.81 on Wednesday. The stock has a market cap of $46.39 billion, a P/E ratio of 58.38, a P/E/G ratio of 2.88 and a beta of 0.72. The firm has a 50 day moving average price of $181.57 and a 200 day moving average price of $174.12. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54.

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

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Analysts Set New Price Targets

WCN has been the subject of a number of research analyst reports. CIBC boosted their target price on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on shares of Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Truist Financial boosted their price target 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 investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.53.

Insider Activity

In other news, SVP Robert Nielsen III sold 1,000 shares of the company’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 value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares in the company, valued at $778,428.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Robert Nielsen III sold 1,000 shares of the company’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 value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares in the company, valued at $778,428.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Susan Netherton sold 2,000 shares of the company’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 transaction of $358,260.00. Following the completion of the transaction, the senior vice president now owns 10,078 shares of the company’s stock, valued at $1,805,272.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,600 shares of company stock worth $3,842,550 over the last quarter. 0.31% of the stock is currently owned by company insiders.

About Waste Connections

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.