Douglas Lane & Associates LLC Purchases 8,283 Shares of Waste Connections, Inc. (NYSE:WCN)

by · The Markets Daily

Douglas Lane & Associates LLC boosted its position in Waste Connections, Inc. (NYSE:WCN – Free Report) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,946 shares of the business services provider’s stock after purchasing an additional 8,283 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Waste Connections were worth $19,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WCN. Hexagon Capital Partners LLC grew its holdings in shares of 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 last quarter. OFI Invest Asset Management purchased a new stake in shares of Waste Connections during the first quarter valued at $32,000. Pathway Financial Advisers LLC bought a new stake in Waste Connections in the 1st quarter worth about $43,000. Signature Resources Capital Management LLC purchased a new position in Waste Connections in the 2nd quarter worth about $45,000. Finally, Carolinas Wealth Consulting LLC boosted its stake in shares of Waste Connections by 3,885.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after buying an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the transaction, the senior vice president now directly owns 10,078 shares in the company, valued at approximately $1,805,272.14. This represents 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 hyperlink. In other news, SVP Susan Netherton sold 2,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the sale, the senior vice president now directly owns 10,078 shares of the company’s stock, valued at $1,805,272.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Philip Rivard sold 2,300 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 1,226 shares in the company, valued at approximately $214,243.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,600 shares of company stock valued at $3,842,550. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WCN. Citigroup increased their price objective on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. BMO Capital Markets raised their target price on shares of Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Oppenheimer increased their price target on Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. CIBC increased their price target on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a report on Friday, July 26th. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.53.

Get Our Latest Stock Analysis on Waste Connections

Waste Connections Stock Performance

Waste Connections stock traded up $1.56 during mid-day trading on Friday, reaching $181.40. 510,610 shares of the company traded hands, compared to its average volume of 893,978. The company has a market capitalization of $46.81 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. The firm’s fifty day moving average is $181.78 and its two-hundred day moving average is $174.38.

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

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.63%. Waste Connections’s payout ratio is 34.13%.

About Waste Connections

(Free Report)

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.

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