Evolve Private Wealth LLC Makes New Investment in Waste Connections, Inc. $WCN

Evolve Private Wealth LLC acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,131 shares of the business services provider’s stock, valued at approximately $1,022,000.

A number of other large investors have also recently added to or reduced their stakes in WCN. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the 3rd quarter valued at $26,000. Whipplewood Advisors LLC raised its stake in shares of Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the fourth quarter valued at approximately $36,000. Finally, Entrust Financial LLC bought a new stake in shares of Waste Connections in the 4th quarter worth about $37,000. Institutional investors own 86.09% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Robert Michael Cloninger sold 2,811 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president owned 11,666 shares in the company, valued at $1,995,119.32. This represents a 19.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president directly owned 734 shares of the company’s stock, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 14,311 shares of company stock valued at $2,303,997 over the last 90 days. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on WCN. Barclays raised their price target on Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. UBS Group reaffirmed a “neutral” rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research report on Friday, August 7th. TD Cowen reaffirmed a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce reiterated 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 given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.89.

Waste Connections Trading Up 0.2%

Shares of WCN stock opened at $169.81 on Monday. The company has a market cap of $42.72 billion, a PE ratio of 40.92, a P/E/G ratio of 2.91 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average price is $166.53 and its two-hundred day moving average price is $163.13. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $188.09.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

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

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.