Elevation Point Wealth Partners LLC Purchases 5,945 Shares of Waste Connections, Inc. $WCN

Elevation Point Wealth Partners LLC grew its position in Waste Connections, Inc. (NYSE:WCN) by 180.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,248 shares of the business services provider’s stock after buying an additional 5,945 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Waste Connections were worth $1,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management raised its holdings in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock worth $533,000 after acquiring an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Waste Connections by 2.6% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 64 shares during the last quarter. WPG Advisers LLC boosted its stake in Waste Connections by 7.7% during the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock valued at $161,000 after purchasing an additional 66 shares during the last quarter. RDA Financial Network increased its holdings in shares of Waste Connections by 2.8% in the 4th quarter. RDA Financial Network now owns 2,459 shares of the business services provider’s stock worth $431,000 after purchasing an additional 67 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Waste Connections by 12.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock worth $106,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Barclays set a $180.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a research note on Thursday, April 23rd. Wolfe Research began coverage on shares of Waste Connections in a report on Friday, March 13th. They set an “outperform” rating and a $199.00 price objective for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.84.

Waste Connections Stock Up 0.1%

WCN stock opened at $168.93 on Monday. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $191.91. The business’s 50-day moving average is $157.67 and its two-hundred 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 company has a market cap of $42.86 billion, a price-to-earnings ratio of 41.20, a P/E/G ratio of 3.00 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.13 earnings per share. As a group, analysts forecast that Waste Connections, Inc. will post 5.49 earnings per share for the current year.

Waste Connections Announces Dividend

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

Insider Activity at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the transaction, the chief executive officer owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This represents a 19.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Little sold 2,605 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the sale, the vice president directly owned 34,395 shares of the company’s stock, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,605 shares of company stock valued at $2,822,923 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Waste Connections 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.