Wedmont Private Capital Makes New $261,000 Investment in Waste Connections, Inc. (NYSE:WCN)

Wedmont Private Capital purchased a new position in Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,446 shares of the business services provider’s stock, valued at approximately $261,000.

A number of other institutional investors have also bought and sold shares of WCN. International Assets Investment Management LLC acquired a new stake in shares of Waste Connections in the 4th quarter worth $5,214,000. Cerity Partners LLC increased its position in shares of Waste Connections by 16.4% during the fourth quarter. Cerity Partners LLC now owns 4,603 shares of the business services provider’s stock valued at $687,000 after acquiring an additional 647 shares during the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Waste Connections in the 4th quarter valued at approximately $324,000. Simplicity Solutions LLC lifted its holdings in shares of Waste Connections by 114.2% in the 4th quarter. Simplicity Solutions LLC now owns 9,205 shares of the business services provider’s stock worth $1,374,000 after acquiring an additional 4,907 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC purchased a new position in shares of Waste Connections during the 4th quarter worth approximately $452,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.2 %

Shares of Waste Connections stock opened at $180.36 on Wednesday. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $182.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a fifty day moving average of $176.03 and a two-hundred day moving average of $169.28. The company has a market cap of $46.54 billion, a P/E ratio of 58.56, a PEG ratio of 2.85 and a beta of 0.72.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. On average, analysts forecast that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.63%. Waste Connections’s payout ratio is 37.01%.

Analysts Set New Price Targets

WCN has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Oppenheimer boosted their price target on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. TD Cowen increased their price target on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Truist Financial boosted their price target on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.28.

Insider Buying and Selling at Waste Connections

In related news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the transaction, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the transaction, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares in the company, valued at $778,428.15. The disclosure for this sale can be found here. In the last three months, insiders sold 22,600 shares of company stock worth $4,011,550. 0.31% of the stock is owned by corporate insiders.

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.