Integrated Wealth Concepts LLC Raises Holdings in Waste Connections, Inc. $WCN

Key Points

• Integrated Wealth Concepts increased its Waste Connections holdings by 124.7% in the second quarter, owning 17,359 shares worth approximately $2.9 million. Institutional investors and hedge funds collectively own 86.09% of WCN.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS and $2.56 billion in revenue, with revenue up 6.4% year over year. The company also pays a quarterly dividend of $0.35 per share, representing a 0.9% yield.
• Analysts maintain a generally positive view, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $200.89, versus its reported opening price of $159.74.

Integrated Wealth Concepts LLC grew its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 124.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,359 shares of the business services provider's stock after buying an additional 9,634 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Waste Connections were worth $2,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WCN. Evolve Private Wealth LLC purchased a new position in shares of Waste Connections in the second quarter valued at $1,022,000. Rathbones Group PLC raised its position in Waste Connections by 1.2% during the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider's stock worth $117,394,000 after acquiring an additional 7,866 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Waste Connections during the 2nd quarter worth approximately $12,398,000. Fideuram Asset Management Ireland dac purchased a new position in Waste Connections during the fourth quarter worth $646,000. Finally, Legacy Wealth Asset Management LLC increased its position in Waste Connections by 68.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 15,966 shares of the business services provider's stock worth $2,661,000 after purchasing an additional 6,470 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of Waste Connections stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the transaction, the senior vice president owned 734 shares of the company's stock, valued at $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert Cloninger sold 2,811 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by company insiders.

Waste Connections Trading Up 0.0%

NYSE WCN opened at $159.74 on Monday. The stock has a market cap of $40.19 billion, a P/E ratio of 38.49, a PEG ratio of 2.74 and a beta of 0.48. The company's fifty day simple moving average is $167.40 and its 200-day simple moving average is $163.03. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $179.74.

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

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders 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 annualized dividend and a dividend yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is presently 33.73%.

Wall Street Analysts Forecast Growth

WCN has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. UBS Group reissued a "neutral" rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $199.00 target price on shares of Waste Connections in a report on Friday, July 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Waste Connections in a research report on Friday, August 7th. Finally, Barclays increased their price target on shares of Waste Connections from $180.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. Two research 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 company. According to data from MarketBeat, Waste Connections has an average rating of "Moderate Buy" and an average price target of $200.89.

Waste Connections Company Profile

Waste Connections, Inc is an integrated solid waste services company that provides collection, transfer, disposal, recycling and resource-recovery services across the United States and Canada. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills and recycling facilities.

Its services include curbside and containerized waste collection, construction and demolition debris management, recycling, landfill disposal, and the management of non-hazardous oilfield waste.

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