2,456 Shares in Waste Connections, Inc. (NYSE:WCN) Bought by Procyon Advisors LLC

Procyon Advisors LLC purchased a new position in Waste Connections, Inc. (NYSE:WCN) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,456 shares of the business services provider’s stock, valued at approximately $439,000.

A number of other institutional investors also recently bought and sold shares of the stock. Paladin Wealth LLC bought a new stake in Waste Connections in the third quarter worth $412,000. Douglas Lane & Associates LLC lifted its position in Waste Connections by 8.4% in the third quarter. Douglas Lane & Associates LLC now owns 106,946 shares of the business services provider’s stock worth $19,124,000 after buying an additional 8,283 shares during the last quarter. Ritholtz Wealth Management lifted its position in Waste Connections by 92.1% in the third quarter. Ritholtz Wealth Management now owns 6,052 shares of the business services provider’s stock worth $1,082,000 after buying an additional 2,901 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Waste Connections by 11.3% in the third quarter. Valeo Financial Advisors LLC now owns 3,996 shares of the business services provider’s stock worth $715,000 after buying an additional 406 shares during the last quarter. Finally, CWM LLC lifted its position in Waste Connections by 43.0% in the third quarter. CWM LLC now owns 1,218 shares of the business services provider’s stock worth $218,000 after buying an additional 366 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

Shares of WCN stock opened at $182.03 on Wednesday. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $187.54. The stock’s 50-day moving average is $181.99 and its 200 day moving average is $174.54. The company has a market cap of $46.97 billion, a P/E ratio of 59.10, a PEG 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 (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Wednesday, August 7th. Waste Connections’s payout ratio is currently 37.01%.

Analysts Set New Price Targets

WCN has been the topic of a number of recent analyst reports. Eight Capital upgraded Waste Connections to a “hold” rating in a research note on Wednesday, October 9th. Raymond James increased their target price 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 target price on Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Scotiabank initiated coverage on Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 target price on the stock. Finally, Truist Financial increased their target price on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.53.

Insider Activity at Waste Connections

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Susan Netherton sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the completion of the sale, the senior vice president now directly owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,600 shares of company stock valued at $3,842,550 over the last quarter. 0.31% of the stock is owned by corporate insiders.

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.