Waste Connections, Inc. (NYSE:WCN) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,126 shares of the business services provider’s stock after selling 2,866 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Waste Connections were worth $4,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. WINTON GROUP Ltd grew its stake in Waste Connections by 8.4% during the 2nd quarter. WINTON GROUP Ltd now owns 30,324 shares of the business services provider’s stock valued at $5,318,000 after acquiring an additional 2,349 shares in the last quarter. Inspire Advisors LLC purchased a new stake in Waste Connections during the 2nd quarter valued at about $680,000. Envestnet Asset Management Inc. grew its stake in Waste Connections by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 541,572 shares of the business services provider’s stock valued at $94,978,000 after acquiring an additional 7,378 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Waste Connections by 48.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 44,872 shares of the business services provider’s stock valued at $7,869,000 after acquiring an additional 14,690 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new stake in Waste Connections during the 2nd quarter valued at about $932,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

WCN has been the subject of several research reports. Raymond James upped their price objective on shares of Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research note on Monday, July 22nd. TD Cowen upped their price objective on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Connections in a research note on Thursday, May 23rd. They issued a “buy” rating and a $189.00 price target for the company. Royal Bank of Canada increased their price target on shares of Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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 transaction 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 document filed with the SEC, which is available through this link. 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 transaction 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 document filed with the SEC, which is available through this link. Also, SVP Philip Rivard sold 2,300 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $174.75, for a total transaction of $401,925.00. Following the sale, the senior vice president now owns 1,226 shares in the company, valued at $214,243.50. The disclosure for this sale can be found here. Insiders have sold a total of 21,600 shares of company stock worth $3,842,550 in the last ninety days. 0.31% of the stock is owned by corporate insiders.

Waste Connections Stock Performance

NYSE:WCN opened at $185.68 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $47.91 billion, a P/E ratio of 60.29, a PEG ratio of 2.96 and a beta of 0.72. The company has a 50 day moving average price of $181.70 and a 200 day moving average price of $172.97. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54.

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

Waste Connections Dividend Announcement

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

About Waste Connections

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.