DRW Securities LLC Acquires Shares of 2,583 Waste Connections, Inc. (NYSE:WCN)

DRW Securities LLC bought a new stake in Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,583 shares of the business services provider’s stock, valued at approximately $453,000.

Several other hedge funds have also recently made changes to their positions in WCN. First Affirmative Financial Network increased its holdings in Waste Connections by 3.9% in the 1st quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock worth $317,000 after acquiring an additional 69 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Waste Connections by 8.8% in the second quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock worth $161,000 after purchasing an additional 74 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Waste Connections by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock valued at $1,047,000 after purchasing an additional 82 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Waste Connections by 2.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,182 shares of the business services provider’s stock valued at $475,000 after buying an additional 83 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Waste Connections by 116.2% in 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. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Up 0.7 %

Shares of NYSE:WCN opened at $180.46 on Tuesday. The firm has a fifty day moving average of $181.86 and a 200 day moving average of $173.54. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $46.56 billion, a PE ratio of 58.59, a price-to-earnings-growth ratio of 2.96 and a beta of 0.72.

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

Waste Connections Announces Dividend

The firm also recently declared 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. This represents a $1.14 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Insider Transactions at Waste Connections

In related news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction on 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 owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction dated 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 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. Also, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at $778,428.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,600 shares of company stock worth $3,842,550. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of analyst reports. Truist Financial boosted their target price on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. CIBC raised their target price on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. Oppenheimer lifted their target price on Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Raymond James increased their price target 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. Finally, BMO Capital Markets boosted their price objective on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Waste Connections currently has a consensus 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.