7,503 Shares in Waste Connections, Inc. $WCN Acquired by NewEdge Wealth LLC

Key Points

• NewEdge Wealth acquired 7,503 shares of Waste Connections in the second quarter, valued at approximately $1.25 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 $169.81.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in adjusted earnings per share 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, yielding about 0.8% annually.

NewEdge Wealth LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,503 shares of the business services provider's stock, valued at approximately $1,251,000.

A number of other institutional investors also recently bought and sold shares of WCN. Ackerman Asset Management LLC purchased a new position in shares of Waste Connections in the second quarter valued at $275,000. Pacific Sun Financial Corp purchased a new stake in shares of Waste Connections in the 2nd quarter worth about $1,150,000. Danske Bank A S purchased a new position in Waste Connections during the 2nd quarter valued at about $33,011,000. Wealthfront Advisers LLC purchased a new position in Waste Connections during the 2nd quarter valued at about $6,484,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Waste Connections during the second quarter worth about $1,009,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Waste Connections

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the sale, the chief operating officer owned 32,861 shares of the company's stock, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president owned 19,737 shares of the company's stock, valued at $3,084,103.62. This represents a 27.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,311 shares of company stock worth $2,303,997 in the last three months. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WCN has been the topic of several research reports. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. BMO Capital Markets restated an "outperform" rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Citigroup upped their target price on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. UBS Group reissued 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, TD Cowen reissued 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. Two 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.89.

Waste Connections Price Performance

WCN opened at $169.81 on Friday. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $188.09. The company's 50 day simple moving average is $166.53 and its 200 day simple moving average is $163.17. The stock has a market capitalization of $42.72 billion, a PE ratio of 40.92, a P/E/G ratio of 2.89 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion for 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%. Waste Connections's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Announces Dividend

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

Waste Connections Profile

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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