Wealthfront Advisers LLC Invests $6.48 Million in Waste Connections, Inc. $WCN

Wealthfront Advisers LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 38,901 shares of the business services provider’s stock, valued at approximately $6,484,000.

A number of other institutional investors have also modified their holdings of WCN. Royal Bank of Canada lifted its holdings in Waste Connections by 0.9% in the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock worth $1,983,500,000 after acquiring an additional 106,763 shares during the last quarter. Capital International Investors boosted its stake in Waste Connections by 28.2% in the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock valued at $1,134,781,000 after acquiring an additional 1,420,921 shares during the period. BlackRock Inc. bought a new position in shares of Waste Connections during the second quarter valued at approximately $1,061,947,000. JPMorgan Chase & Co. raised its position in shares of Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after purchasing an additional 1,289,042 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Waste Connections by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,675,737 shares of the business services provider’s stock worth $819,939,000 after purchasing an additional 220,575 shares during the period. Institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WCN. Citigroup raised their price target on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. lowered their price objective 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. TD Cowen reiterated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 target price on shares of Waste Connections in a research note on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $200.89.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $169.10 on Thursday. The firm’s 50 day moving average is $165.99 and its two-hundred day moving average is $163.11. The firm has a market capitalization of $42.54 billion, a P/E ratio of 40.75, a PEG ratio of 2.84 and a beta of 0.48. 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, Inc. has a 52 week low of $146.89 and a 52 week high of $188.75.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.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 was up 6.4% on a year-over-year basis. Analysts anticipate that Waste Connections, Inc. will post 5.62 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.

Insider Buying and Selling at Waste Connections

In other news, COO Jason Craft sold 1,500 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Patrick James Shea sold 7,500 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the transaction, the vice president directly owned 19,737 shares in the company, valued at $3,084,103.62. This trade 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 11,811 shares of company stock valued at $1,887,572 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Waste Connections Profile

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.