Carnegie Investment Counsel Has $833,000 Holdings in Waste Connections, Inc. (NYSE:WCN)

Carnegie Investment Counsel increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 13.6% during the second quarter, HoldingsChannel reports. The fund owned 4,750 shares of the business services provider’s stock after acquiring an additional 570 shares during the quarter. Carnegie Investment Counsel’s holdings in Waste Connections were worth $833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hexagon Capital Partners LLC grew its position in Waste Connections by 116.2% in the 1st 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 in the last quarter. OFI Invest Asset Management bought a new stake in Waste Connections in the 1st quarter worth about $32,000. Pathway Financial Advisers LLC bought a new stake in Waste Connections in the 1st quarter worth about $43,000. Signature Resources Capital Management LLC bought a new stake in Waste Connections in the 2nd quarter worth about $45,000. Finally, Rational Advisors LLC bought a new stake in Waste Connections in the 1st quarter worth about $53,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN stock traded up $1.05 during trading on Wednesday, reaching $183.55. 167,693 shares of the company’s stock traded hands, compared to its average volume of 894,315. The company has a market capitalization of $47.36 billion, a P/E ratio of 59.25, a PEG ratio of 2.85 and a beta of 0.72. 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 firm’s 50-day moving average is $177.51 and its 200 day moving average is $170.18. Waste Connections, Inc. has a 1 year low of $126.12 and a 1 year high of $183.78.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. Waste Connections’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. Equities research analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, August 7th. Waste Connections’s dividend payout ratio is presently 37.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer upped their price objective on shares of Waste Connections from $181.00 to $191.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 target price for the company. Truist Financial increased their target price on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Royal Bank of Canada increased their target price 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, StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Five investment 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 target price of $187.28.

Insiders Place Their Bets

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the completion of the sale, the chief financial officer now owns 48,899 shares in the company, valued at $8,706,466.95. The disclosure for this sale can be found here. Insiders have sold 22,600 shares of company stock worth $4,011,550 in the last three months. 0.31% of the stock is currently 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.