Spirit of America Management Corp NY Sells 4,500 Shares of Waste Connections, Inc. $WCN

Spirit of America Management Corp NY lowered its position in Waste Connections, Inc. (NYSE:WCN) by 39.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,775 shares of the business services provider’s stock after selling 4,500 shares during the period. Spirit of America Management Corp NY’s holdings in Waste Connections were worth $1,191,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of WCN. Norges Bank acquired a new position in Waste Connections in the second quarter valued at $755,938,000. Picton Mahoney Asset Management bought a new position in shares of Waste Connections in the 2nd quarter worth about $140,935,000. Montrusco Bolton Investments Inc. lifted its stake in shares of Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock valued at $419,451,000 after purchasing an additional 732,718 shares during the period. Mackenzie Financial Corp boosted its position in shares of Waste Connections by 14.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock valued at $975,190,000 after purchasing an additional 642,426 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Waste Connections by 2.1% during the second quarter. Vanguard Group Inc. now owns 30,867,844 shares of the business services provider’s stock worth $5,764,546,000 after purchasing an additional 620,600 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the transaction, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.28% of the company’s stock.

Waste Connections Trading Up 0.1%

WCN opened at $177.84 on Friday. Waste Connections, Inc. has a fifty-two week low of $163.27 and a fifty-two week high of $201.66. The firm has a market capitalization of $45.48 billion, a PE ratio of 74.10, a P/E/G ratio of 3.52 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average is $172.63 and its 200 day moving average is $178.63.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. As a group, research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Wednesday, November 5th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s payout ratio is currently 58.33%.

Analyst Ratings Changes

A number of equities analysts have issued reports on WCN shares. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Stifel Nicolaus decreased their price target on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Wells Fargo & Company started coverage on shares of Waste Connections in a report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price objective on the stock. Sanford C. Bernstein assumed coverage on Waste Connections in a research note on Wednesday, November 12th. They issued an “outperform” rating and a $200.00 target price for the company. Finally, Oppenheimer upped their price target on Waste Connections from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $208.37.

About Waste Connections

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.