HB Wealth Management LLC Sells 3,144 Shares of Waste Connections, Inc. $WCN

HB Wealth Management LLC trimmed its position in Waste Connections, Inc. (NYSE:WCN) by 10.9% in the first quarter, HoldingsChannel.com reports. The firm owned 25,631 shares of the business services provider’s stock after selling 3,144 shares during the period. HB Wealth Management LLC’s holdings in Waste Connections were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WCN. Integrated Wealth Concepts LLC acquired a new stake in shares of Waste Connections during the 1st quarter valued at about $577,000. Invesco Ltd. lifted its stake in Waste Connections by 12.8% during the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock worth $40,946,000 after purchasing an additional 24,948 shares during the period. First Trust Advisors LP lifted its stake in Waste Connections by 2.9% during the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock worth $4,572,000 after purchasing an additional 688 shares during the period. Jump Financial LLC acquired a new stake in Waste Connections during the second quarter valued at approximately $2,714,000. Finally, State Street Corp boosted its holdings in Waste Connections by 1.0% during the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock valued at $337,708,000 after purchasing an additional 17,197 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WCN shares. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Wolfe Research began coverage on Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 price target on the stock. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.84.

Waste Connections Price Performance

Shares of WCN stock opened at $168.93 on Monday. The stock’s fifty day moving average is $157.67 and its 200-day moving average is $163.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $42.86 billion, a PE ratio of 41.20, a PEG ratio of 3.00 and a beta of 0.49. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $191.91.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts expect that Waste Connections, Inc. will post 5.49 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s dividend payout ratio (DPR) is presently 34.15%.

Insider Transactions at Waste Connections

In other news, COO Jason Craft sold 1,500 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the sale, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick James Shea sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This represents a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,605 shares of company stock worth $2,822,923. Corporate insiders own 0.27% of the company’s stock.

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.