Linden Thomas Advisory Services LLC Grows Stake in Waste Connections, Inc. (NYSE:WCN)

Linden Thomas Advisory Services LLC raised its stake in Waste Connections, Inc. (NYSE:WCN) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,618 shares of the business services provider’s stock after purchasing an additional 260 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Waste Connections were worth $284,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its holdings in Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after buying an additional 86 shares during the last quarter. OFI Invest Asset Management acquired a new position in Waste Connections in the first quarter valued at approximately $32,000. Pathway Financial Advisers LLC acquired a new position in Waste Connections in the first quarter valued at approximately $43,000. Rational Advisors LLC acquired a new position in Waste Connections in the first quarter valued at approximately $53,000. Finally, Sands Capital Management LLC boosted its position in shares of Waste Connections by 76.6% during the fourth quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock worth $56,000 after buying an additional 164 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on WCN. StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Truist Financial boosted their price objective on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. boosted their price objective on Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft began coverage on Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective for the company. Finally, CIBC boosted their price objective on Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and an average price target of $187.28.

Insider Activity

In other news, SVP Philip Rivard sold 2,300 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total transaction of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares in the company, valued at approximately $214,243.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the sale, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $174.75, for a total transaction 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. The disclosure for this sale can be found here. Insiders have sold a total of 23,100 shares of company stock worth $4,082,785 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Waste Connections Stock Up 0.4 %

NYSE:WCN traded up $0.67 during trading hours on Thursday, hitting $179.96. 497,981 shares of the stock traded hands, compared to its average volume of 910,943. The firm has a 50 day moving average price of $174.72 and a 200 day moving average price of $168.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $182.99. The firm has a market cap of $46.43 billion, a price-to-earnings ratio of 58.23, a PEG ratio of 2.85 and a beta of 0.72.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) 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 company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the business earned $1.02 EPS. The company’s revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, August 7th. Waste Connections’s dividend payout ratio is currently 37.01%.

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.