Global Trust Asset Management LLC Invests $36,000 in Waste Connections, Inc. (NYSE:WCN)

Global Trust Asset Management LLC purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200 shares of the business services provider’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake 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 period. Asset Dedication LLC acquired a new position in Waste Connections during the third quarter worth about $41,000. Pathway Financial Advisers LLC acquired a new position in Waste Connections during the first quarter worth about $43,000. Signature Resources Capital Management LLC acquired a new position in Waste Connections during the second quarter worth about $45,000. Finally, Carolinas Wealth Consulting LLC grew its position in Waste Connections by 3,885.7% during the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after buying an additional 272 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 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 approximately $8,706,466.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Philip Rivard sold 2,300 shares of the stock in a transaction on 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 sale, the senior vice president now owns 1,226 shares of the company’s stock, valued at $214,243.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the sale, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,600 shares of company stock valued at $3,842,550. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WCN shares. Royal Bank of Canada upped their target price on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets lowered their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday. TD Cowen upped their target price on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup upped their price target on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.56.

Waste Connections Stock Performance

Shares of WCN opened at $175.80 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 2.98 and a beta of 0.72. The company’s 50 day simple moving average is $182.08 and its 200 day simple moving average is $175.07. Waste Connections, Inc. has a 1 year low of $126.12 and a 1 year high of $187.54.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results 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 firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. Waste Connections’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Waste Connections, Inc. will post 4.82 EPS for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.315 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.72%. Waste Connections’s dividend payout ratio is 34.13%.

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.