Landscape Capital Management L.L.C. Acquires Shares of 5,906 Waste Connections, Inc. $WCN

Key Points

• Landscape Capital Management bought 5,906 shares of Waste Connections valued at approximately $984,000. Institutional investors collectively own 86.09% of the company.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $200.89.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS and $2.56 billion in revenue, while revenue rose 6.4% year over year. The company also pays a quarterly dividend of $0.35 per share, yielding about 0.8%.

Landscape Capital Management L.L.C. purchased a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,906 shares of the business services provider's stock, valued at approximately $984,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Kestra Private Wealth Services LLC boosted its position in shares of Waste Connections by 2.6% during the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock worth $449,000 after purchasing an additional 64 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Waste Connections by 1.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider's stock valued at $701,000 after buying an additional 65 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Waste Connections by 12.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider's stock worth $106,000 after buying an additional 67 shares during the period. TD Private Client Wealth LLC raised its stake in Waste Connections by 21.1% during the 4th quarter. TD Private Client Wealth LLC now owns 407 shares of the business services provider's stock worth $71,000 after buying an additional 71 shares during the period. Finally, Lido Advisors LLC raised its stake in Waste Connections by 2.4% during the 4th quarter. Lido Advisors LLC now owns 3,056 shares of the business services provider's stock worth $537,000 after buying an additional 72 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WCN. TD Cowen reiterated a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Citigroup raised their target price on shares of Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. cut 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. Barclays upped their price target on shares of Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $200.89.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $169.81 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $42.72 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.91 and a beta of 0.48. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $188.09. The stock has a 50 day moving average of $166.53 and a 200-day moving average of $163.13.

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, beating analysts' consensus estimates of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the prior year, the business earned $1.29 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.35 per share. 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 dividend payout ratio (DPR) is currently 33.73%.

Insider Activity at Waste Connections

In related news, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares in the company, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 14,311 shares of company stock worth $2,303,997. 0.27% of the stock is 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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