Sanctuary Advisors LLC Acquires Shares of 8,049 Waste Connections, Inc. $WCN

Sanctuary Advisors LLC bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,049 shares of the business services provider’s stock, valued at approximately $1,341,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Private Wealth Services LLC raised its holdings in Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 64 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Waste Connections by 1.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider’s stock worth $701,000 after acquiring an additional 65 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Waste Connections by 12.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 67 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Waste Connections by 21.1% during the fourth quarter. TD Private Client Wealth LLC now owns 407 shares of the business services provider’s stock worth $71,000 after purchasing an additional 71 shares during the period. Finally, Lido Advisors LLC lifted its holdings in Waste Connections by 2.4% during the 4th quarter. Lido Advisors LLC now owns 3,056 shares of the business services provider’s stock worth $537,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. UBS Group reissued a “neutral” rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. TD Cowen restated a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.89.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $165.88 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market cap of $41.73 billion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The company has a 50 day moving average of $167.49 and a 200-day moving average of $163.09. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $185.33.

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

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is presently 33.73%.

Insiders Place Their Bets

In other news, VP Patrick James Shea sold 7,500 shares of the business’s 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 owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the sale, the chief operating officer owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 14,311 shares of company stock worth $2,303,997. 0.27% of the stock is currently owned by company insiders.

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.