Park Avenue Securities LLC Sells 3,006 Shares of Waste Connections, Inc. (NYSE:WCN)

Park Avenue Securities LLC trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN) by 30.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,810 shares of the business services provider’s stock after selling 3,006 shares during the period. Park Avenue Securities LLC’s holdings in Waste Connections were worth $1,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hexagon Capital Partners LLC raised 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 worth $28,000 after acquiring an additional 86 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Waste Connections during the 1st quarter valued at $32,000. Pathway Financial Advisers LLC purchased a new position in Waste Connections in the 1st quarter worth $43,000. Signature Resources Capital Management LLC bought a new stake in Waste Connections in the second quarter worth $45,000. Finally, Carolinas Wealth Consulting LLC lifted its stake in 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 purchasing an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James lifted their price objective on Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. TD Cowen increased their price objective on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Oppenheimer lifted their target price on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Citigroup increased their price target on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Five equities research 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. According to MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and an average price target of $191.53.

Waste Connections Stock Up 1.7 %

Shares of NYSE:WCN opened at $179.81 on Wednesday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average price of $181.57 and a 200-day moving average price of $174.12. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54.

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, topping analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $2.25 billion during 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s payout ratio is currently 37.01%.

Insiders Place Their Bets

In other news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Susan Netherton sold 2,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $179.13, for a total transaction of $358,260.00. Following the sale, the senior vice president now directly owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the transaction, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have 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.