Lmcg Investments LLC Increases Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Lmcg Investments LLC increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,461 shares of the business services provider’s stock after acquiring an additional 1,577 shares during the period. Waste Connections makes up about 0.9% of Lmcg Investments LLC’s holdings, making the stock its 24th biggest position. Lmcg Investments LLC’s holdings in Waste Connections were worth $14,811,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WCN. Hexagon Capital Partners LLC boosted its stake in Waste Connections by 116.2% during 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 period. OFI Invest Asset Management bought a new stake in shares of Waste Connections during the 1st quarter valued at about $32,000. Pathway Financial Advisers LLC purchased a new position in shares of Waste Connections during the first quarter worth about $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections in the second quarter valued at approximately $45,000. Finally, Sands Capital Management LLC lifted its position in Waste Connections by 76.6% during the fourth quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 164 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Price Performance

Shares of WCN stock opened at $185.44 on Tuesday. 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 firm has a market cap of $47.85 billion, a P/E ratio of 60.21, a P/E/G ratio of 2.96 and a beta of 0.72. The business’s 50 day moving average price is $181.86 and its 200-day moving average price is $173.10. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were issued a $0.285 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.61%. Waste Connections’s dividend payout ratio (DPR) is 37.01%.

Insider Buying and Selling

In related news, CFO Mary Anne Whitney sold 16,300 shares of the firm’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 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 1,226 shares in the company, valued at $214,243.50. The disclosure for this sale can be found here. Insiders sold a total of 21,600 shares of company stock worth $3,842,550 in the last three months. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WCN shares. Oppenheimer raised their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. TD Cowen upped their price objective on Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Truist Financial raised their price objective on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on Waste Connections in a research note on Thursday, May 23rd. They issued a “buy” rating and a $189.00 target price for the company. Finally, Raymond James lifted their price target on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.28.

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.