Allworth Financial LP Buys New Stake in Waste Connections, Inc. $WCN

Allworth Financial LP purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,524 shares of the business services provider's stock, valued at approximately $12,089,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nicholas Company Inc. boosted its stake in Waste Connections by 32.4% during the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider's stock worth $78,756,000 after buying an additional 109,950 shares in the last quarter. Rathbones Group PLC raised its stake in shares of Waste Connections by 1.2% in the 4th quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider's stock valued at $117,394,000 after buying an additional 7,866 shares in the last quarter. Mirabaud Asset Management Ltd raised its stake in shares of Waste Connections by 28.9% in the 4th quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider's stock valued at $10,754,000 after buying an additional 12,680 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Waste Connections by 16.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 60,140 shares of the business services provider's stock worth $10,546,000 after acquiring an additional 8,363 shares during the period. Finally, Everstar Asset Management LLC bought a new position in shares of Waste Connections during the 4th quarter worth about $2,100,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $168.51 on Friday. The firm has a fifty day moving average of $166.25 and a two-hundred day moving average of $163.12. 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 stock has a market capitalization of $42.39 billion, a price-to-earnings ratio of 40.60, a PEG ratio of 2.90 and a beta of 0.48. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $188.09.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating 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 business's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, equities research analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WCN shares. Barclays upped their price objective on Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a research note on Thursday, April 23rd. UBS Group reissued 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Waste Connections in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.89.

Insider Transactions at Waste Connections

In other news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction dated Tuesday, August 18th. The shares were 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 directly owned 734 shares in the company, valued at $122,262.38. This represents a 77.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of the 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 transaction, the senior vice president directly owned 11,666 shares of the company's stock, valued at $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,311 shares of company stock valued at $2,303,997 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Waste Connections Company 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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