Seven Eight Capital LP Acquires New Holdings in Waste Connections, Inc. (NYSE:WCN)

Seven Eight Capital LP bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,799 shares of the business services provider’s stock, valued at approximately $842,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. First Affirmative Financial Network boosted its holdings in shares of Waste Connections by 3.9% during the 1st quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock worth $317,000 after buying an additional 69 shares during the period. First Horizon Advisors Inc. lifted its position in 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 acquiring an additional 74 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Waste Connections by 2.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,182 shares of the business services provider’s stock valued at $475,000 after acquiring an additional 83 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Waste Connections by 116.2% in the first 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. Finally, CWM LLC increased its stake in shares of Waste Connections by 12.5% in the second 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.

Waste Connections Trading Down 0.0 %

Shares of Waste Connections stock opened at $179.15 on Friday. Waste Connections, Inc. has a 12-month low of $126.12 and a 12-month high of $187.54. The stock has a market capitalization of $46.22 billion, a P/E ratio of 58.17, a price-to-earnings-growth ratio of 2.96 and a beta of 0.72. The company has a 50-day simple moving average of $181.85 and a 200 day simple moving average of $173.42. 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 earnings results 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 company 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%. Waste Connections’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. Research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were paid a $0.285 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Analysts Set New Price Targets

A number of analysts have issued reports on WCN shares. Royal Bank of Canada raised their target price on Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a report 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 report on Friday, July 26th. CIBC increased their price target on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Raymond James increased their target price on shares of Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research note on Monday, July 22nd. Five investment 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’s stock. Based on data from MarketBeat, Waste Connections has a consensus rating of “Moderate Buy” and a consensus target price of $187.28.

Insider Buying and Selling

In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections 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 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 Susan Netherton sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total value of $358,260.00. Following the transaction, the senior vice president now directly owns 10,078 shares in the company, valued at approximately $1,805,272.14. The disclosure for this sale can be found here. Insiders have sold a total of 21,600 shares of company stock worth $3,842,550 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

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.