Gradient Investments LLC Trims Stock Holdings in Waste Connections, Inc. $WCN

Gradient Investments LLC decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 8.5% during the second quarter, HoldingsChannel reports. The fund owned 132,564 shares of the business services provider’s stock after selling 12,306 shares during the quarter. Gradient Investments LLC’s holdings in Waste Connections were worth $22,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WCN. City Holding Co. bought a new position in shares of Waste Connections in the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections during the 3rd quarter worth about $26,000. Whipplewood Advisors LLC lifted its holdings in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in Waste Connections by 346.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Waste Connections in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Activity at Waste Connections

In related news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the purchase, the chief executive officer directly owned 301,017 shares in the company, valued at approximately $45,826,828.08. This represents a 19.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick James Shea sold 7,500 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president directly owned 19,737 shares in the company, valued at $3,084,103.62. The trade was a 27.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 11,811 shares of company stock valued at $1,887,572. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WCN shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. Citigroup raised their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $199.00 target price on shares of Waste Connections in a report on Friday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.89.

Waste Connections Price Performance

Waste Connections stock opened at $166.66 on Friday. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 2.87 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The business has a 50-day simple moving average of $163.99 and a 200 day simple moving average of $163.27. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $191.00.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. On average, research analysts forecast that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections’s dividend payout ratio is 33.73%.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.