Notis McConarty Edward Invests $1.60 Million in Waste Connections, Inc. $WCN

Key Points

• Notis McConarty Edward bought 9,603 Waste Connections shares worth approximately $1.60 million in the second quarter; institutional investors collectively own 86.09% of the company.
• Waste Connections exceeded quarterly expectations, reporting $1.50 EPS versus the $1.35 consensus and $2.56 billion in revenue, up 6.4% year over year. The company also declared a quarterly dividend of $0.35 per share, representing a 0.8% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $200.89, above its reported price of $169.10.

Notis McConarty Edward purchased a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,603 shares of the business services provider's stock, valued at approximately $1,601,000.

Other institutional investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in Waste Connections during the third quarter valued at $26,000. Transamerica Financial Advisors LLC raised its stake in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock valued at $31,000 after buying an additional 135 shares during the period. Whipplewood Advisors LLC raised its stake in shares of Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after buying an additional 175 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Waste Connections during the 4th quarter valued at $36,000. Finally, Entrust Financial LLC bought a new stake in Waste Connections in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of WCN opened at $169.10 on Thursday. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $188.75. The stock's 50-day simple moving average is $165.99 and its 200 day simple moving average is $163.11. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.48.

Waste Connections (NYSE:WCN - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. The company's quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio (DPR) is 33.73%.

Insider Activity at Waste Connections

In related news, COO Jason Craft sold 1,500 shares of the business's stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick James Shea sold 7,500 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following 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 position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,811 shares of company stock valued at $1,887,572. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WCN shares. BMO Capital Markets reiterated an "outperform" rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. UBS Group restated a "neutral" rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Citigroup raised their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Waste Connections from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.89.

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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