44,825 Shares in Waste Connections, Inc. $WCN Acquired by Moore Capital Management LP

Key Points

• Moore Capital Management acquired 44,825 shares of Waste Connections valued at approximately $7.47 million, while institutional investors collectively own 86.09% of the company.
• Waste Connections reported quarterly earnings of $1.50 per share, beating estimates by $0.15, with revenue of $2.56 billion—up 6.4% year over year. The company also maintains a quarterly dividend of $0.35 per share, representing a 0.8% yield.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $200.89, compared with the stock’s reported price of $166.19. Recent insider activity was negative, with executives selling 14,311 shares worth about $2.3 million over three months.

Moore Capital Management LP bought a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 44,825 shares of the business services provider's stock, valued at approximately $7,472,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WCN. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the third quarter worth about $26,000. Transamerica Financial Advisors LLC boosted its stake in Waste Connections by 346.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock worth $31,000 after purchasing an additional 135 shares during the period. Group One Trading LLC purchased a new position in Waste Connections during the 2nd quarter worth approximately $30,000. Whipplewood Advisors LLC raised its stake in 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 purchasing an additional 175 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the 4th quarter valued at $36,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

WCN opened at $166.19 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $41.81 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.48. The stock has a 50-day moving average of $167.73 and a 200-day moving average of $163.05. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $185.33.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, equities research analysts forecast that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections's payout ratio is 33.73%.

Analyst Ratings Changes

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

Insider Transactions at Waste Connections

In other news, VP Patrick James Shea sold 7,500 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the sale, the vice president directly owned 19,737 shares in the company, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares of the company's stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is currently 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.

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