Elevation Point Wealth Partners LLC Makes New Investment in Waste Connections, Inc. $WCN

Elevation Point Wealth Partners LLC bought a new stake in Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,788 shares of the business services provider’s stock, valued at approximately $1,298,000.

Other large investors have also modified their holdings of the company. XXEC Inc. acquired a new stake in shares of Waste Connections in the 2nd quarter worth $164,870,000. BlackRock Inc. purchased a new stake in Waste Connections in the 2nd quarter valued at approximately $1,061,947,000. Norges Bank acquired a new position in Waste Connections during the 4th quarter worth approximately $697,519,000. Capital International Investors raised its stake in shares of Waste Connections by 28.2% during the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock worth $1,134,781,000 after buying an additional 1,420,921 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Waste Connections in the second quarter worth $235,075,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Michael Cloninger sold 2,811 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the transaction, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the sale, the vice president owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,311 shares of company stock worth $2,303,997 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Waste Connections Stock Up 0.2%

Shares of NYSE WCN opened at $169.81 on Monday. The firm’s 50-day moving average is $166.53 and its two-hundred day moving average is $163.13. The company has a market capitalization of $42.72 billion, a PE ratio of 40.92, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $188.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66.

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 firm 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 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on WCN. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Citigroup upped their target price on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Barclays lifted their price target on shares of Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. decreased their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.89.

Waste Connections Company 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.