King Luther Capital Management Corp lowered its stake in Waste Connections, Inc. (NYSE:WCN – Free Report) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 933,166 shares of the business services provider’s stock after selling 64,278 shares during the quarter. King Luther Capital Management Corp’s holdings in Waste Connections were worth $143,642,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Group One Trading LLC acquired a new position in shares of Waste Connections during the 2nd quarter valued at $30,000. Western Wealth Management LLC bought a new position in Waste Connections during the first quarter worth $41,000. Johnson Financial Group Inc. bought a new position in Waste Connections during the second quarter worth $45,000. Wellington Altus USA Inc. grew its holdings in Waste Connections by 205.6% in the second quarter. Wellington Altus USA Inc. now owns 275 shares of the business services provider’s stock worth $48,000 after purchasing an additional 185 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in shares of Waste Connections during the third quarter valued at about $50,000. Institutional investors own 86.09% of the company’s stock.
Insider Buying and Selling at Waste Connections
In related news, SVP Matthew Black sold 11,000 shares of the firm’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $180.60, for a total value of $1,986,600.00. Following the transaction, the senior vice president owned 32,530 shares of the company’s stock, valued at approximately $5,874,918. This trade represents a 25.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philip Rivard sold 2,500 shares of Waste Connections stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the transaction, the senior vice president owned 734 shares of the company’s stock, valued at $122,262.38. This trade represents a 77.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,500 shares of company stock worth $2,960,235 in the last quarter. 0.27% of the stock is owned by insiders.
Waste Connections Stock Performance
WCN opened at $192.06 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20. The company’s fifty day moving average price is $167.08 and its two-hundred day moving average price is $164.45. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $195.34. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 3.50 and a beta of 0.43.
Waste Connections (NYSE:WCN – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.60 billion. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. Waste Connections’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts expect that Waste Connections, Inc. will post 5.70 EPS for the current fiscal year.
Waste Connections Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.3850 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. Waste Connections’s dividend payout ratio (DPR) is currently 34.45%.
Analysts Set New Price Targets
Several analysts have recently commented on WCN shares. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $207.00 target price (up from $184.00) on shares of Waste Connections in a research note on Friday, October 23rd. JPMorgan Chase & Co. dropped their price target on Waste Connections from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $205.00 price target on shares of Waste Connections in a report on Thursday, October 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $221.00 price objective (up from $218.00) on shares of Waste Connections in a research note on Friday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on Waste Connections from $187.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $203.22.
Get Our Latest Stock Report on Waste Connections
Waste Connections Company Profile
Waste Connections, Inc. is a North American provider of non-hazardous solid waste services. The company serves residential, commercial, industrial and municipal customers, with operations across the United States and Canada, particularly in secondary markets and rural communities. Its services include waste collection, transfer and disposal, as well as recycling and resource recovery. In select regions, Waste Connections also provides treatment, recovery and disposal services for waste generated by oil and gas exploration and production.
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