17,855 Shares in Waste Connections, Inc. $WCN Bought by Maven Securities LTD

Key Points

• Maven Securities bought 17,855 shares of Waste Connections during the second quarter, valued at approximately $2.98 million. Institutional investors collectively own 86.09% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $200.89, compared with the stock’s reported price of $163.15.
• Waste Connections exceeded quarterly earnings and revenue expectations, reporting $1.50 in EPS and $2.56 billion in revenue, while revenue increased 6.4% year over year. The company also paid a quarterly dividend of $0.35 per share, representing a 0.9% yield.

Maven Securities LTD bought a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,855 shares of the business services provider's stock, valued at approximately $2,976,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Waste Connections in the 1st quarter valued at about $577,000. Invesco Ltd. increased its position in Waste Connections by 12.8% during the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock worth $40,946,000 after purchasing an additional 24,948 shares in the last quarter. First Trust Advisors LP raised its holdings in Waste Connections by 2.9% in the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock valued at $4,572,000 after buying an additional 688 shares during the period. Jump Financial LLC purchased a new position in Waste Connections in the second quarter valued at approximately $2,714,000. Finally, State Street Corp lifted its position in Waste Connections by 1.0% during the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock valued at $337,708,000 after buying an additional 17,197 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Insider Activity

In related news, SVP Philip Rivard sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the transaction, the senior vice president owned 734 shares in the company, valued at approximately $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert Cloninger sold 2,811 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,995,119.32. This represents a 19.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on WCN. TD Cowen reiterated a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their target price on shares of Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Weiss Ratings restated a "hold (c)" rating on shares of Waste Connections in a report on Friday, August 7th. UBS Group reaffirmed a "neutral" rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Finally, Citigroup increased their price target on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.89.

Waste Connections Trading Down 1.0%

WCN opened at $163.15 on Wednesday. The firm's 50 day moving average is $167.84 and its 200-day moving average is $163.11. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week 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 firm has a market capitalization of $41.04 billion, a P/E ratio of 39.31, a P/E/G ratio of 2.83 and a beta of 0.48.

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

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is currently 33.73%.

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.

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