BW Gestao de Investimentos Ltda. Sells 32,570 Shares of Waste Connections, Inc. (NYSE:WCN)

BW Gestao de Investimentos Ltda. decreased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 41.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 45,361 shares of the business services provider’s stock after selling 32,570 shares during the period. BW Gestao de Investimentos Ltda.’s holdings in Waste Connections were worth $7,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WCN. Natixis Advisors LLC grew its holdings in shares of Waste Connections by 0.9% in the second quarter. Natixis Advisors LLC now owns 207,986 shares of the business services provider’s stock worth $36,472,000 after acquiring an additional 1,831 shares during the period. Tandem Investment Advisors Inc. lifted its stake in shares of Waste Connections by 4.5% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 348,796 shares of the business services provider’s stock worth $61,165,000 after acquiring an additional 14,937 shares during the last quarter. Spire Wealth Management increased its holdings in Waste Connections by 5.6% during the 2nd quarter. Spire Wealth Management now owns 4,938 shares of the business services provider’s stock worth $866,000 after purchasing an additional 261 shares during the period. Van ECK Associates Corp boosted its position in Waste Connections by 8.4% during the second quarter. Van ECK Associates Corp now owns 49,824 shares of the business services provider’s stock valued at $8,737,000 after purchasing an additional 3,865 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in Waste Connections by 9.0% in the second quarter. Banque Cantonale Vaudoise now owns 5,696 shares of the business services provider’s stock valued at $999,000 after buying an additional 468 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Buying and Selling

In other news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction on Friday, June 7th. The shares were sold at an average price of $169.00, for a total transaction of $169,000.00. Following the transaction, the senior vice president now owns 5,321 shares in the company, valued at $899,249. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $169.00, for a total transaction of $169,000.00. Following the completion of the sale, the senior vice president now directly owns 5,321 shares of the company’s stock, valued at $899,249. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Susan Netherton sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the completion of the transaction, the senior vice president now owns 10,078 shares in the company, valued at approximately $1,805,272.14. The disclosure for this sale can be found here. Insiders sold 22,600 shares of company stock worth $4,011,550 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial raised their price target 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. Raymond James upped their price target on shares of Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Royal Bank of Canada increased their price target on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets boosted their price target on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.28.

Waste Connections Stock Performance

WCN traded up $0.73 during trading hours on Monday, hitting $186.50. 1,054,200 shares of the stock were exchanged, compared to its average volume of 888,368. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50-day simple moving average of $179.82 and a 200-day simple moving average of $171.78. The stock has a market cap of $48.12 billion, a price-to-earnings ratio of 60.55, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $187.54.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 return on equity of 15.16% and a net margin of 10.23%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. 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 disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s payout ratio is 37.01%.

Waste Connections Company 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.