B. Riley Wealth Advisors Inc. Has $309,000 Position in Waste Connections, Inc. (NYSE:WCN)

B. Riley Wealth Advisors Inc. cut its stake in Waste Connections, Inc. (NYSE:WCN) by 28.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,765 shares of the business services provider’s stock after selling 690 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Waste Connections were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WCN. First Affirmative Financial Network increased its stake in Waste Connections by 3.9% in the first quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 69 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Waste Connections by 8.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock valued at $161,000 after buying an additional 74 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Waste Connections by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock valued at $1,047,000 after buying an additional 82 shares in the last quarter. Hexagon Capital Partners LLC raised its stake 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 worth $28,000 after buying an additional 86 shares during the period. Finally, CWM LLC lifted its holdings in Waste Connections by 12.5% during the second quarter. CWM LLC now owns 852 shares of the business services provider’s stock worth $149,000 after acquiring an additional 95 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BMO Capital Markets raised their price target on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Raymond James raised their target price on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a report on Monday, July 22nd. TD Cowen upped their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Truist Financial upped their target price 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, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.53.

Waste Connections Stock Up 1.7 %

WCN stock opened at $179.81 on Wednesday. The business’s fifty day moving average price is $181.57 and its two-hundred day moving average price is $174.12. The stock has a market capitalization of $46.39 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 2.88 and a beta of 0.72. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. 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 (NYSE:WCN) last posted 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. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were paid 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 0.63%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Insider Activity

In related news, SVP Robert Nielsen III sold 1,000 shares of the firm’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 owns 4,321 shares in the company, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the firm’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 sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction 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 approximately $778,428.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,600 shares of company stock worth $3,842,550. 0.31% of the stock is currently owned by company 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.