HB Wealth Management LLC Takes $5.38 Million Position in Waste Connections, Inc. (NYSE:WCN)

Key Points

• HB Wealth Management LLC acquired 27,558 shares of Waste Connections, Inc. for approximately $5.38 million in the first quarter of the year.
• Waste Connections reported a quarterly EPS of $1.29, exceeding analysts' expectations, and had revenue of $2.41 billion, a 7.1% increase year-over-year.
• The company announced a quarterly dividend of $0.315 per share, representing an annual yield of 0.67%, with the payment date set for August 21st.

HB Wealth Management LLC purchased a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 27,558 shares of the business services provider's stock, valued at approximately $5,379,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Angeles Wealth Management LLC purchased a new position in Waste Connections in the first quarter valued at about $201,000. Pacer Advisors Inc. raised its stake in Waste Connections by 3.0% during the first quarter. Pacer Advisors Inc. now owns 2,289 shares of the business services provider's stock valued at $447,000 after buying an additional 66 shares in the last quarter. Assetmark Inc. raised its stake in Waste Connections by 48.9% during the first quarter. Assetmark Inc. now owns 767 shares of the business services provider's stock valued at $150,000 after buying an additional 252 shares in the last quarter. Cetera Investment Advisers raised its stake in Waste Connections by 32.7% during the first quarter. Cetera Investment Advisers now owns 20,041 shares of the business services provider's stock valued at $3,907,000 after buying an additional 4,933 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its position in shares of Waste Connections by 4.8% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 5,277 shares of the business services provider's stock valued at $1,030,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on WCN shares. Melius started coverage on Waste Connections in a research report on Monday, June 9th. They set a "buy" rating on the stock. Scotiabank increased their price target on Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Oppenheimer increased their price target on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Seaport Res Ptn upgraded Waste Connections to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Raymond James Financial dropped their price target on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $215.00.

Waste Connections Price Performance

NYSE WCN traded down $1.87 during trading hours on Wednesday, reaching $189.97. 352,116 shares of the company's stock were exchanged, compared to its average volume of 1,137,042. The stock has a market cap of $49.09 billion, a PE ratio of 76.60, a price-to-earnings-growth ratio of 3.35 and a beta of 0.60. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The firm has a fifty day moving average of $187.83 and a 200-day moving average of $188.84. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 EPS. On average, equities research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Wednesday, August 6th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, August 6th. Waste Connections's payout ratio is presently 50.81%.

Waste Connections Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.