Modern Wealth Management LLC Buys 3,217 Shares of Waste Connections, Inc. $WCN

Modern Wealth Management LLC increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 195.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,862 shares of the business services provider’s stock after purchasing an additional 3,217 shares during the quarter. Modern Wealth Management LLC’s holdings in Waste Connections were worth $792,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ritholtz Wealth Management raised its holdings in Waste Connections by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock worth $533,000 after purchasing an additional 64 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after buying an additional 64 shares in the last quarter. WPG Advisers LLC grew its position in shares of Waste Connections by 7.7% in the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after buying an additional 66 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Waste Connections by 12.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock worth $106,000 after acquiring an additional 67 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Waste Connections by 2.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,991 shares of the business services provider’s stock valued at $525,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Insider Transactions at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Patrick James Shea sold 7,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the transaction, the vice president owned 19,737 shares of the company’s stock, valued at $3,084,103.62. This represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,000 shares of company stock worth $2,395,755 in the last 90 days. 0.27% of the stock is owned by company insiders.

Waste Connections Trading Down 0.1%

NYSE WCN opened at $169.52 on Monday. The company has a fifty day simple moving average of $161.36 and a two-hundred day simple moving average of $163.21. The stock has a market cap of $42.78 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.91 and a beta of 0.49. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $191.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts forecast that Waste Connections, Inc. will post 5.6 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections’s payout ratio is presently 33.73%.

Analysts Set New Price Targets

WCN has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 price target on shares of Waste Connections in a research report on Thursday, April 23rd. Barclays set a $180.00 price objective on Waste Connections and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. BMO Capital Markets restated an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. decreased their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.05.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.