Waste Connections, Inc. $WCN Shares Purchased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC boosted its holdings in Waste Connections, Inc. (NYSE:WCN) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 335,586 shares of the business services provider’s stock after buying an additional 8,754 shares during the period. Douglas Lane & Associates LLC’s holdings in Waste Connections were worth $51,657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WCN. Group One Trading LLC purchased a new stake in Waste Connections during the second quarter worth approximately $30,000. Whipplewood Advisors LLC boosted its holdings in Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after acquiring an additional 175 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Waste Connections during the first quarter valued at approximately $41,000. Johnson Financial Group Inc. acquired a new stake in Waste Connections during the 2nd quarter valued at $45,000. Finally, Wellington Altus USA Inc. grew its stake in shares of Waste Connections by 205.6% during the second quarter. Wellington Altus USA Inc. now owns 275 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 185 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WCN. TD Cowen reaffirmed a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Canadian Imperial Bank of Commerce set a $184.00 price target on Waste Connections and gave the stock an “outperformer” rating in a report on Thursday. Barclays upped their price target on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Wolfe Research started coverage on Waste Connections in a research report on Tuesday, September 15th. They set an “outperform” rating and a $204.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Waste Connections has an average rating of “Moderate Buy” and a consensus price target of $199.78.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the transaction, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. This trade represents a 77.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Cloninger sold 2,811 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. The trade was a 19.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company’s stock.

Waste Connections Trading Down 1.3%

Shares of Waste Connections stock traded down $2.08 during trading on Friday, hitting $152.61. The stock had a trading volume of 556,168 shares, compared to its average volume of 1,532,922. The stock has a 50 day simple moving average of $161.82 and a 200 day simple moving average of $161.35. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $179.74. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $38.39 billion, a PE ratio of 36.76, a P/E/G ratio of 2.66 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.29 EPS. On average, research analysts expect that Waste Connections, Inc. will post 5.63 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, August 6th. Waste Connections’s payout ratio is presently 33.73%.

About Waste Connections

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal, recycling and resource recovery services. The company serves residential, commercial, industrial and construction customers through local operations and provides services under municipal and other contracted arrangements.

Its business includes curbside and commercial waste collection, transfer stations, solid waste landfills, recycling facilities and organics processing. Waste Connections also provides environmental services for energy-producing customers, including the management and disposal of non-hazardous oilfield waste, and operates resource recovery and renewable energy projects in connection with certain waste facilities.

Founded in 1997, Waste Connections serves communities across the United States and Canada.