Mattson Financial Services LLC Makes New $1.23 Million Investment in Waste Connections, Inc. (NYSE:WCN)

Mattson Financial Services LLC bought a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,992 shares of the business services provider’s stock, valued at approximately $1,226,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in shares of Waste Connections by 116.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Waste Connections during the first quarter valued at approximately $32,000. Pathway Financial Advisers LLC bought a new position in shares of Waste Connections during the first quarter valued at approximately $43,000. Signature Resources Capital Management LLC bought a new stake in shares of Waste Connections during the 2nd quarter worth approximately $45,000. Finally, Carolinas Wealth Consulting LLC grew its position in 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 valued at $49,000 after acquiring an additional 272 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on WCN shares. Truist Financial raised their price target on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Raymond James increased their price objective on Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their price target on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of Waste Connections from $175.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $188.65.

Insider Transactions at Waste Connections

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the sale, the senior vice president now owns 10,078 shares of the company’s stock, valued at $1,805,272.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction 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 directly owns 4,321 shares in the company, valued at approximately $778,428.15. The disclosure for this sale can be found here. Insiders sold 21,600 shares of company stock valued at $3,842,550 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $177.54 on Thursday. The firm has a market cap of $45.81 billion, a PE ratio of 57.64, a P/E/G ratio of 2.88 and a beta of 0.72. The business has a 50-day moving average price of $181.49 and a 200 day moving average price of $173.98. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections, Inc. has a twelve month low of $126.12 and a twelve month high of $187.54.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the company earned $1.02 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Wednesday, August 7th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.64%. Waste Connections’s payout ratio is currently 37.01%.

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.