Oppenheimer Asset Management Inc. Has $7.87 Million Stake in Waste Connections, Inc. (NYSE:WCN)

Oppenheimer Asset Management Inc. boosted its position in Waste Connections, Inc. (NYSE:WCN) by 48.7% in the second quarter, Holdings Channel.com reports. The firm owned 44,872 shares of the business services provider’s stock after purchasing an additional 14,690 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Waste Connections were worth $7,869,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted 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 worth $28,000 after purchasing an additional 86 shares during the period. OFI Invest Asset Management acquired a new position in Waste Connections during the 1st quarter worth about $32,000. Pathway Financial Advisers LLC bought a new stake in shares of Waste Connections in the 1st quarter valued at about $43,000. Signature Resources Capital Management LLC bought a new stake in shares of Waste Connections in the 2nd quarter valued at about $45,000. Finally, Sands Capital Management LLC increased its stake in shares of Waste Connections by 76.6% in the fourth quarter. Sands Capital Management LLC now owns 378 shares of the business services provider’s stock valued at $56,000 after buying an additional 164 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Susan Netherton sold 2,000 shares of the 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 owns 10,078 shares in the company, valued at $1,805,272.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at $778,428.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Susan Netherton sold 2,000 shares of Waste Connections stock in a transaction 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 owns 10,078 shares in the company, valued at $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 three months. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WCN has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Raymond James increased their price objective on shares of Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 22nd. CIBC lifted their target price on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Truist Financial lifted their price objective on Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and a consensus price target of $187.28.

Waste Connections Trading Down 0.2 %

WCN opened at $185.68 on Monday. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. The firm has a market capitalization of $47.91 billion, a PE ratio of 60.29, a P/E/G ratio of 2.96 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. The company’s 50-day moving average is $181.70 and its 200 day moving average is $172.97.

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 firm had revenue of $2.25 billion during 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 company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, research analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

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

Waste Connections 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.