Caprock Group LLC Acquires 1,000 Shares of Waste Connections, Inc. (NYSE:WCN)

Caprock Group LLC increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 68.3% during the second quarter, Holdings Channel reports. The fund owned 2,464 shares of the business services provider’s stock after purchasing an additional 1,000 shares during the period. Caprock Group LLC’s holdings in Waste Connections were worth $432,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sei Investments Co. grew its position in Waste Connections by 6.2% during the 1st quarter. Sei Investments Co. now owns 144,756 shares of the business services provider’s stock worth $24,899,000 after acquiring an additional 8,505 shares during the last quarter. Norges Bank bought a new stake in Waste Connections during the 4th quarter worth approximately $592,392,000. UBS Group AG grew its position in Waste Connections by 3.2% during the 4th quarter. UBS Group AG now owns 374,208 shares of the business services provider’s stock worth $55,858,000 after acquiring an additional 11,600 shares during the last quarter. Capstone Investment Advisors LLC grew its position in Waste Connections by 591.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 9,881 shares of the business services provider’s stock worth $1,700,000 after acquiring an additional 8,452 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Waste Connections by 43.4% during the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after acquiring an additional 1,320,933 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $185.99 on Friday. The company has a market capitalization of $47.99 billion, a PE ratio of 60.39, a PEG ratio of 2.92 and a beta of 0.72. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $187.54. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock’s fifty day simple moving average is $181.53 and its 200 day simple moving average is $172.79.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. On average, research analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, August 7th. Waste Connections’s dividend payout ratio is 37.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WCN. Raymond James increased their price objective on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research report on Monday, July 22nd. Truist Financial increased their price objective on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. BMO Capital Markets increased their price objective on Waste Connections from $196.00 to $198.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Oppenheimer increased their price objective on Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.28.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Susan Netherton sold 2,000 shares of Waste Connections 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 sale, the senior vice president now owns 10,078 shares of the company’s stock, valued at approximately $1,805,272.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the sale, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Susan Netherton sold 2,000 shares of Waste Connections stock in a transaction dated Friday, August 2nd. The shares were 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 in the company, valued at approximately $1,805,272.14. The disclosure for this sale can be found here. Insiders have sold 21,600 shares of company stock valued at $3,842,550 in the last 90 days. 0.31% of the stock is currently owned by company 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.