Mount Yale Investment Advisors LLC Reduces Stock Position in Waste Connections, Inc. (NYSE:WCN)

Mount Yale Investment Advisors LLC decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 19.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,838 shares of the business services provider’s stock after selling 1,949 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Waste Connections were worth $1,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hexagon Capital Partners LLC increased its stake in Waste Connections by 116.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after buying an additional 86 shares during the period. Global Trust Asset Management LLC bought a new stake in shares of Waste Connections during the third quarter valued at approximately $36,000. Asset Dedication LLC bought a new position in Waste Connections in the third quarter worth approximately $41,000. Pathway Financial Advisers LLC purchased a new position in Waste Connections during the 1st quarter worth $43,000. Finally, Signature Resources Capital Management LLC bought a new stake in Waste Connections during the 2nd quarter valued at $45,000. 86.09% of the stock is currently owned by institutional investors.

Insider Transactions at Waste Connections

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WCN. TD Cowen raised their price target on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus restated a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a report on Friday. CIBC increased their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research note on Friday, July 26th. Citigroup boosted their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Scotiabank started coverage on Waste Connections in a research report on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Six research 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’s stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $195.56.

Waste Connections Stock Down 1.5 %

WCN stock opened at $175.80 on Friday. The stock has a market capitalization of $45.37 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $187.54. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $182.08 and a 200 day moving average of $175.07.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that Waste Connections, Inc. will post 4.82 earnings per share for the current year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.72%. Waste Connections’s dividend payout ratio is currently 34.13%.

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.