Paladin Wealth LLC Takes Position in Waste Connections, Inc. (NYSE:WCN)

Paladin Wealth LLC acquired a new position in Waste Connections, Inc. (NYSE:WCN) during the third quarter, Holdings Channel reports. The institutional investor acquired 2,302 shares of the business services provider’s stock, valued at approximately $412,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. OFI Invest Asset Management acquired a new position in Waste Connections during the first quarter worth $32,000. Pathway Financial Advisers LLC bought a new position in Waste Connections during the first quarter valued at about $43,000. Signature Resources Capital Management LLC bought a new stake in shares of Waste Connections during the 2nd quarter worth about $45,000. Finally, Carolinas Wealth Consulting LLC boosted its stake in shares of Waste Connections by 3,885.7% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Up 0.9 %

WCN opened at $181.40 on Monday. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. The company has a market capitalization of $46.81 billion, a P/E ratio of 58.90, a P/E/G ratio of 2.90 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. The firm’s fifty day moving average price is $181.78 and its two-hundred day moving average price is $174.40.

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

Waste Connections Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on WCN. CIBC boosted their target price on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a report on Friday, July 26th. Raymond James boosted their price objective on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. BMO Capital Markets raised their target price on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Scotiabank assumed coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on shares of Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.53.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares in the company, valued at $778,428.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction that occurred 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 transaction, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares in the company, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,600 shares of company stock worth $3,842,550 in the last 90 days. 0.31% of the stock is owned by company insiders.

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.