Legacy Capital Group California Inc. Sells 67 Shares of Waste Connections, Inc. (NYSE:WCN)

Legacy Capital Group California Inc. decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 2.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,015 shares of the business services provider’s stock after selling 67 shares during the period. Legacy Capital Group California Inc.’s holdings in Waste Connections were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WCN. Norges Bank bought a new stake in shares of Waste Connections during the fourth quarter valued at approximately $592,392,000. Wellington Management Group LLP increased its position in shares of Waste Connections by 43.4% during the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock valued at $651,427,000 after acquiring an additional 1,320,933 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Waste Connections by 57.7% during the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock valued at $522,988,000 after acquiring an additional 1,281,418 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Waste Connections by 235.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock valued at $172,240,000 after acquiring an additional 809,914 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Waste Connections by 113.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider’s stock valued at $177,438,000 after acquiring an additional 630,685 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Insider Transactions at Waste Connections

In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of the 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 transaction, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at $1,049,286. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of the 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 transaction, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at $1,049,286. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael W. Harlan sold 1,500 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the transaction, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock worth $752,385 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WCN shares. StockNews.com upgraded shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Jefferies Financial Group raised their target price on shares of Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, March 18th. BMO Capital Markets raised their target price on shares of Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Royal Bank of Canada dropped their price target on shares of Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Truist Financial lifted their target price on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Five research 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’s stock. Based on data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and an average price target of $181.53.

Waste Connections Stock Up 1.2 %

Shares of WCN traded up $2.10 during mid-day trading on Tuesday, hitting $182.09. The company’s stock had a trading volume of 401,778 shares, compared to its average volume of 894,547. The company’s 50-day moving average is $170.12 and its 200-day moving average is $164.89. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $182.35. The firm has a market capitalization of $46.98 billion, a price-to-earnings ratio of 59.13, a PEG ratio of 2.88 and a beta of 0.72. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. Waste Connections’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities research analysts forecast that Waste Connections, Inc. will post 4.85 EPS for the current fiscal year.

Waste Connections Announces Dividend

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

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.