LPL Financial LLC Purchases 3,868 Shares of Waste Connections, Inc. (NYSE:WCN)

Key Points

• LPL Financial LLC increased its stake in Waste Connections, Inc. by 8.9% in Q1, now holding shares valued at $9.26 million.
• The company reported quarterly earnings of $1.29 EPS, exceeding estimates, with a revenue of $2.41 billion, marking a 7.1% year-over-year increase.
• Waste Connections announced a quarterly dividend of $0.315, which will be paid to investors of record on August 6th.

LPL Financial LLC lifted its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,432 shares of the business services provider's stock after acquiring an additional 3,868 shares during the period. LPL Financial LLC's holdings in Waste Connections were worth $9,258,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in Waste Connections by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after acquiring an additional 56 shares during the last quarter. Tranquility Partners LLC lifted its stake in shares of Waste Connections by 1.4% in the first quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock worth $850,000 after buying an additional 58 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Waste Connections by 29.2% in the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock worth $55,000 after buying an additional 64 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Waste Connections by 28.9% in the first quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock worth $57,000 after buying an additional 65 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Waste Connections by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,289 shares of the business services provider's stock worth $447,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Trading Up 1.4%

Shares of NYSE:WCN traded up $2.67 during mid-day trading on Monday, reaching $190.56. The stock had a trading volume of 1,090,708 shares, compared to its average volume of 1,251,509. The firm has a market cap of $49.24 billion, a PE ratio of 76.84, a price-to-earnings-growth ratio of 3.39 and a beta of 0.58. The firm has a 50 day simple moving average of $186.40 and a two-hundred day simple moving average of $189.56. 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, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66.

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

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is 50.81%.

Analysts Set New Price Targets

WCN has been the subject of a number of analyst reports. Truist Financial set a $220.00 price objective on shares of Waste Connections in a research note on Friday, April 25th. Scotiabank upped their target price on shares of Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. BMO Capital Markets increased their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Raymond James Financial dropped their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research note on Tuesday, July 22nd. Finally, Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price objective for the company in a research note on Monday, June 9th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Connections presently has an average rating of "Buy" and an average target price of $215.00.

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.