Elevation Point Wealth Partners LLC Raises Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Elevation Point Wealth Partners increased its Waste Connections stake by 180% in Q1, buying 5,945 additional shares and bringing its total holding to 9,248 shares worth about $1.5 million.
• Wall Street remains mostly positive on WCN, with analysts giving it an average “Moderate Buy” rating and a consensus price target of $202.84.
• Waste Connections posted quarterly EPS of $1.23, beating estimates, while revenue of $2.33 billion fell short of forecasts; the company also paid a $0.35 quarterly dividend, equal to a 0.8% yield.

Elevation Point Wealth Partners LLC boosted its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 180.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,248 shares of the business services provider's stock after buying an additional 5,945 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Waste Connections were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. City Holding Co. purchased a new stake in Waste Connections in the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Waste Connections during the third quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of Waste Connections during the third quarter valued at approximately $30,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Waste Connections in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WCN shares. The Goldman Sachs Group reissued a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Weiss Ratings lowered shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Wolfe Research initiated coverage on shares of Waste Connections in a research report on Friday, March 13th. They set an "outperform" rating and a $199.00 price target on the stock. Finally, Barclays set a $180.00 price target on shares of Waste Connections and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Waste Connections has an average rating of "Moderate Buy" and an average price target of $202.84.

Insider Buying and Selling

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the sale, the senior vice president directly owned 13,350 shares of the company's stock, valued at approximately $2,200,347. The trade was a 31.01% 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, VP Patrick James Shea sold 7,500 shares of the business's stock in a transaction on 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 completion of the sale, the vice president directly owned 19,737 shares in the company, valued at $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,605 shares of company stock worth $2,822,923 over the last three months. Corporate insiders own 0.27% of the company's stock.

Waste Connections Trading Up 0.1%

Shares of NYSE WCN opened at $168.93 on Monday. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a 50-day moving average of $157.67 and a 200 day moving average of $163.85. The stock has a market cap of $42.86 billion, a P/E ratio of 41.20, a price-to-earnings-growth ratio of 3.00 and a beta of 0.49.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The business had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.49 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's dividend payout ratio is presently 34.15%.

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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