PFG Advisors Lowers Stock Position in Waste Connections, Inc. (NYSE:WCN)

PFG Advisors cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,450 shares of the business services provider’s stock after selling 1,308 shares during the period. PFG Advisors’ holdings in Waste Connections were worth $2,944,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC grew its position in shares of 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 purchased a new position in Waste Connections in the 1st quarter valued at $32,000. Pathway Financial Advisers LLC purchased a new position in Waste Connections in the 1st quarter valued at $43,000. Signature Resources Capital Management LLC purchased a new position in Waste Connections in the 2nd quarter valued at $45,000. Finally, Carolinas Wealth Consulting LLC grew its position in Waste Connections by 3,885.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after buying an additional 272 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Waste Connections

In related news, SVP Philip Rivard sold 2,300 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the transaction, the senior vice president now owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the transaction, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $174.75, for a total transaction of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is owned by insiders.

Waste Connections Trading Down 0.1 %

NYSE:WCN opened at $181.87 on Thursday. The company has a market capitalization of $46.93 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $187.54. The stock has a fifty day simple moving average of $182.04 and a 200-day simple moving average of $174.60.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.07. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the company posted $1.02 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s payout ratio is 37.01%.

Analysts Set New Price Targets

WCN has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Citigroup lifted their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Raymond James boosted their target price on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 22nd. Truist Financial boosted their target price on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Eight Capital upgraded shares of Waste Connections to a “hold” rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.53.

About Waste Connections

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.