Waste Connections, Inc. (NYSE:WCN) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,326 shares of the business services provider’s stock after selling 242 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Waste Connections were worth $377,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its stake in Waste Connections by 116.2% during the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after acquiring an additional 86 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Waste Connections during the first quarter valued at approximately $32,000. Pathway Financial Advisers LLC acquired a new stake in Waste Connections during the first quarter valued at approximately $43,000. Rational Advisors LLC acquired a new stake in Waste Connections during the first quarter valued at approximately $53,000. Finally, Sands Capital Management LLC raised its stake in Waste Connections by 76.6% during the fourth quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock valued at $56,000 after buying an additional 164 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Waste Connections

In related news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the sale, the senior vice president now directly owns 6,321 shares in the company, valued at $1,049,286. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 48,899 shares in the company, valued at $8,706,466.95. The disclosure for this sale can be found here. Insiders sold 20,800 shares of company stock worth $3,654,600 over the last ninety days. 0.31% of the stock is owned by insiders.

Waste Connections Price Performance

NYSE:WCN traded up $0.68 during mid-day trading on Friday, reaching $179.49. The stock had a trading volume of 1,058,689 shares, compared to its average volume of 976,633. The stock has a 50-day simple moving average of $173.83 and a two-hundred day simple moving average of $167.67. The stock has a market capitalization of $46.31 billion, a PE ratio of 58.28, a P/E/G ratio of 2.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $182.99.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. On average, equities analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, August 7th. Waste Connections’s dividend payout ratio is currently 37.01%.

Analyst Ratings Changes

WCN has been the topic of a number of research reports. CIBC increased their price target on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Oppenheimer raised their target price on Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Truist Financial raised their target price on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their target price on Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $187.28.

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.