Arkadios Wealth Advisors Sells 116 Shares of Waste Connections, Inc. (NYSE:WCN)

Arkadios Wealth Advisors cut its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,533 shares of the business services provider’s stock after selling 116 shares during the period. Arkadios Wealth Advisors’ holdings in Waste Connections were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WCN. Vanguard Group Inc. lifted its stake in Waste Connections by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock worth $4,902,110,000 after purchasing an additional 88,137 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Waste Connections by 2.3% in the second quarter. Bank of Montreal Can now owns 8,103,895 shares of the business services provider’s stock worth $1,423,373,000 after purchasing an additional 178,870 shares during the period. Alphinity Investment Management Pty Ltd raised its position in shares of Waste Connections by 8.3% in the first quarter. Alphinity Investment Management Pty Ltd now owns 2,516,867 shares of the business services provider’s stock worth $432,926,000 after buying an additional 193,787 shares in the last quarter. Fiera Capital Corp boosted its stake in Waste Connections by 0.7% during the second quarter. Fiera Capital Corp now owns 2,189,251 shares of the business services provider’s stock valued at $384,268,000 after buying an additional 15,623 shares during the period. Finally, Legal & General Group Plc grew its position in Waste Connections by 4.4% during the second quarter. Legal & General Group Plc now owns 1,690,733 shares of the business services provider’s stock worth $296,510,000 after buying an additional 71,681 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WCN shares. TD Cowen lifted their price target on Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup increased their price target on shares of Waste Connections from $190.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. BMO Capital Markets lowered their price objective on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Oppenheimer upped their target price on shares of Waste Connections from $191.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Raymond James dropped their price target on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $195.56.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $176.75 on Friday. 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 company has a 50-day moving average price of $181.51 and a 200-day moving average price of $175.41. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72. Waste Connections, Inc. has a 12 month low of $128.69 and a 12 month high of $187.54.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the company posted $1.17 EPS. Waste Connections’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Connections, Inc. will post 4.82 EPS for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be issued a $0.315 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.71%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is 40.91%.

Insider Buying and Selling at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Philip Rivard sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the transaction, the senior vice president now owns 1,226 shares in the company, valued at $214,243.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 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 directly owns 4,321 shares in the company, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.