Russell Investments Group Ltd. Has $23.36 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Russell Investments Group Ltd. cut its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 21.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 135,800 shares of the business services provider’s stock after selling 36,603 shares during the period. Russell Investments Group Ltd. owned 0.05% of Waste Connections worth $23,361,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. First Affirmative Financial Network grew its stake in shares of Waste Connections by 3.9% in the first quarter. First Affirmative Financial Network now owns 1,842 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 69 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Waste Connections by 0.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 8,844 shares of the business services provider’s stock worth $1,321,000 after purchasing an additional 73 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Waste Connections by 2.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,182 shares of the business services provider’s stock valued at $475,000 after buying an additional 83 shares in the last quarter. Traynor Capital Management Inc. raised its holdings in Waste Connections by 4.7% in the 4th quarter. Traynor Capital Management Inc. now owns 1,895 shares of the business services provider’s stock valued at $283,000 after acquiring an additional 85 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

WCN traded down $0.48 during trading on Wednesday, hitting $181.86. 341,019 shares of the company traded hands, compared to its average volume of 893,799. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $182.99. The stock’s fifty day moving average is $170.46 and its 200 day moving average is $165.13. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. The firm has a market cap of $46.92 billion, a P/E ratio of 59.08, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. As a group, equities analysts predict that Waste Connections, Inc. will post 4.85 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 7th. Waste Connections’s payout ratio is 37.01%.

Insider Transactions at Waste Connections

In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the completion of the transaction, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at approximately $1,049,286. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the transaction, the senior vice president now directly owns 6,321 shares in the company, valued at $1,049,286. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the transaction, the director now owns 8,004 shares in the company, valued at $1,341,390.36. The disclosure for this sale can be found here. Insiders sold 4,500 shares of company stock worth $752,385 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. CIBC upped their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. BMO Capital Markets lifted their price target on Waste Connections from $182.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Truist Financial lifted their price target on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada decreased their price target on Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.53.

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.