Sanctuary Advisors LLC Purchases New Position in Waste Connections, Inc. (NYSE:WCN)

Sanctuary Advisors LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,868 shares of the business services provider’s stock, valued at approximately $2,104,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake 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 valued at $28,000 after purchasing an additional 86 shares in the last quarter. OFI Invest Asset Management bought a new stake in Waste Connections during the 1st quarter valued at $32,000. Pathway Financial Advisers LLC purchased a new position in shares of Waste Connections in the 1st quarter valued at $43,000. Signature Resources Capital Management LLC bought a new position in shares of Waste Connections in the 2nd quarter worth $45,000. Finally, Carolinas Wealth Consulting LLC lifted its stake 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. 86.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on WCN. Scotiabank started coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price for the company. Raymond James boosted their price objective on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target 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. CIBC increased their price objective on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their target price on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company 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 company has a market capitalization of $46.39 billion, a P/E ratio of 58.38, a price-to-earnings-growth ratio of 2.88 and a beta of 0.72. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $187.54. The firm’s fifty day simple moving average is $181.57 and its 200-day simple moving average is $174.12. 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 announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. As a group, equities research analysts forecast that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the transaction, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the sale, the chief financial officer now directly owns 48,899 shares in the company, valued at $8,706,466.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,600 shares of company stock worth $3,842,550. 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.