29,997 Shares in Waste Connections, Inc. $WCN Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, HoldingsChannel reports. The firm purchased 29,997 shares of the business services provider’s stock, valued at approximately $5,000,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the third quarter worth about $26,000. Group One Trading LLC purchased a new stake in shares of Waste Connections during the 2nd quarter worth about $30,000. Whipplewood Advisors LLC grew its position in shares of Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 175 shares during the period. Transamerica Financial Advisors LLC grew its position in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Waste Connections in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.4%

WCN stock opened at $165.28 on Tuesday. The stock has a market capitalization of $41.58 billion, a P/E ratio of 39.83, a P/E/G ratio of 2.85 and a beta of 0.48. The firm has a 50-day simple moving average of $167.97 and a 200-day simple moving average of $163.01. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $185.33.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. Equities analysts forecast that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, August 6th. Waste Connections’s payout ratio is 33.73%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WCN. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. JPMorgan Chase & Co. dropped their price objective on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Citigroup boosted their price objective on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Barclays upped their target price on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average price target of $200.89.

Insider Transactions at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president owned 734 shares of the company’s stock, valued at $122,262.38. This represents a 77.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,311 shares of company stock worth $2,303,997 over the last three months. 0.27% of the stock is owned by insiders.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.