Belpointe Asset Management LLC Buys New Shares in Waste Connections, Inc. (NYSE:WCN)

Belpointe Asset Management LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN – Get Rating) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 495 shares of the business services provider’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can lifted its position in shares of Waste Connections by 34.7% during the 3rd quarter. Bank of Montreal Can now owns 11,291,300 shares of the business services provider’s stock worth $1,565,922,000 after buying an additional 2,907,249 shares during the last quarter. National Bank of Canada FI raised its stake in Waste Connections by 165.2% during the 4th quarter. National Bank of Canada FI now owns 2,387,504 shares of the business services provider’s stock worth $316,337,000 after acquiring an additional 1,487,402 shares in the last quarter. BlackRock Inc. raised its stake in Waste Connections by 10.9% during the 3rd quarter. BlackRock Inc. now owns 9,966,911 shares of the business services provider’s stock worth $1,346,827,000 after acquiring an additional 981,635 shares in the last quarter. Montrusco Bolton Investments Inc. raised its stake in Waste Connections by 78.8% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 1,080,397 shares of the business services provider’s stock worth $138,118,000 after acquiring an additional 476,115 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Waste Connections by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 27,154,877 shares of the business services provider’s stock worth $3,669,438,000 after acquiring an additional 426,512 shares in the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Insider Activity

In other news, Director William J. Razzouk sold 1,000 shares of Waste Connections stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $135.61, for a total transaction of $135,610.00. Following the completion of the sale, the director now directly owns 3,431 shares in the company, valued at approximately $465,277.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director William J. Razzouk sold 1,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $135.61, for a total value of $135,610.00. Following the sale, the director now directly owns 3,431 shares of the company’s stock, valued at approximately $465,277.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Robert Michael Cloninger sold 1,500 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $133.55, for a total transaction of $200,325.00. Following the completion of the sale, the senior vice president now directly owns 15,244 shares in the company, valued at $2,035,836.20. The disclosure for this sale can be found here. In the last three months, insiders sold 8,700 shares of company stock worth $1,177,955. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

WCN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Waste Connections from $154.00 to $155.00 in a research note on Monday, January 30th. Raymond James decreased their price objective on Waste Connections from $165.00 to $161.00 in a report on Monday, May 1st. BMO Capital Markets decreased their price objective on Waste Connections from $158.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, February 17th. Truist Financial began coverage on Waste Connections in a research report on Monday, April 17th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Waste Connections from $158.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $156.22.

Waste Connections Trading Up 0.6 %

Shares of WCN stock opened at $140.30 on Monday. The business’s fifty day moving average price is $139.15 and its 200 day moving average price is $136.62. Waste Connections, Inc. has a 1-year low of $113.50 and a 1-year high of $148.20. The firm has a market capitalization of $36.13 billion, a PE ratio of 42.39, a P/E/G ratio of 2.97 and a beta of 0.68. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.82.

Waste Connections (NYSE:WCN – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Waste Connections had a return on equity of 14.22% and a net margin of 11.43%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Waste Connections’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 4.2 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.255 per share. The ex-dividend date is Tuesday, May 9th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.73%. Waste Connections’s payout ratio is 30.82%.

About Waste Connections

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Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. The firm offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.