Waste Connections, Inc. (NYSE:WCN) Position Lessened by Lmcg Investments LLC

Lmcg Investments LLC trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 82,963 shares of the business services provider’s stock after selling 1,498 shares during the quarter. Waste Connections comprises about 0.9% of Lmcg Investments LLC’s holdings, making the stock its 25th biggest position. Lmcg Investments LLC’s holdings in Waste Connections were worth $14,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AustralianSuper Pty Ltd raised its holdings in shares of Waste Connections by 29.1% during the third quarter. AustralianSuper Pty Ltd now owns 26,070 shares of the business services provider’s stock worth $4,662,000 after acquiring an additional 5,869 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Waste Connections by 14.4% during the third quarter. Highview Capital Management LLC DE now owns 6,470 shares of the business services provider’s stock worth $1,158,000 after acquiring an additional 816 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in Waste Connections by 8.2% during the third quarter. Integrated Advisors Network LLC now owns 1,481 shares of the business services provider’s stock valued at $265,000 after buying an additional 112 shares in the last quarter. Autumn Glory Partners LLC bought a new position in Waste Connections during the third quarter valued at about $257,000. Finally, Canoe Financial LP bought a new position in Waste Connections during the third quarter valued at about $2,129,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,300 shares of Waste Connections stock in a transaction that occurred 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 sale, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares in the company, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Philip Rivard sold 2,300 shares of Waste Connections stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 1,226 shares of the company’s stock, valued at $214,243.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Waste Connections Stock Performance

WCN stock traded up $0.21 during trading on Friday, reaching $176.96. 554,994 shares of the stock were exchanged, compared to its average volume of 881,178. Waste Connections, Inc. has a twelve month low of $129.31 and a twelve month high of $187.54. The company has a market capitalization of $45.67 billion, a P/E ratio of 48.62, a price-to-earnings-growth ratio of 2.97 and a beta of 0.72. The stock has a 50 day simple moving average of $181.32 and a 200-day simple moving average of $175.49. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.71%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 7th. Waste Connections’s payout ratio is presently 34.62%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WCN. TD Cowen raised their target price on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Raymond James cut their target price on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Truist Financial raised their target price on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Eight Capital upgraded Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup raised their target price on Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

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.