Elevation Point Wealth Partners LLC acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 7,788 shares of the business services provider’s stock, valued at approximately $1,298,000.
Several other large investors have also modified their holdings of the stock. Measured Wealth Private Client Group LLC purchased a new position in Waste Connections during the third quarter worth approximately $26,000. Transamerica Financial Advisors LLC increased its holdings in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after buying an additional 135 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in 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 acquiring an additional 175 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Waste Connections during the fourth quarter valued at about $36,000. Finally, Entrust Financial LLC purchased a new stake in Waste Connections during the fourth quarter valued at about $37,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Waste Connections
In related news, COO Jason Craft sold 1,500 shares of the 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 sale, the chief operating officer owned 32,861 shares in the company, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Philip Rivard sold 2,500 shares of Waste Connections stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the transaction, the senior vice president owned 734 shares of the company’s stock, valued at approximately $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,311 shares of company stock valued at $2,303,997 over the last three months. 0.27% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on WCN
Waste Connections Stock Performance
Shares of WCN stock opened at $169.81 on Monday. The stock has a market capitalization of $42.72 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 2.91 and a beta of 0.48. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $188.09. The company’s 50-day simple moving average is $166.53 and its 200-day simple moving average is $163.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66.
Waste Connections (NYSE:WCN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm 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 firm posted $1.29 earnings per share. Waste Connections’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.
Waste Connections Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.
Waste Connections 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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