Waste Connections, Inc. $WCN Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in Waste Connections, Inc. (NYSE:WCN) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 933,166 shares of the business services provider’s stock after selling 64,278 shares during the quarter. King Luther Capital Management Corp owned approximately 0.37% of Waste Connections worth $143,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WCN. Group One Trading LLC acquired a new position in shares of Waste Connections during the second quarter worth $30,000. Western Wealth Management LLC bought a new stake in shares of Waste Connections in the first quarter worth $41,000. Johnson Financial Group Inc. bought a new stake in shares of Waste Connections in the second quarter worth $45,000. Wellington Altus USA Inc. increased its holdings in Waste Connections by 205.6% in the second quarter. Wellington Altus USA Inc. now owns 275 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 185 shares during the period. Finally, Burkett Financial Services LLC acquired a new stake in Waste Connections in the third quarter valued at $50,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Derek Tan sold 1,000 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $186.77, for a total value of $186,770.00. Following the transaction, the chief accounting officer directly owned 404 shares of the company’s stock, valued at $75,455.08. The trade was a 71.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP James Little sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $185.22, for a total value of $370,440.00. Following the completion of the transaction, the vice president directly owned 32,395 shares in the company, valued at $6,000,201.90. This represents a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,500 shares of company stock valued at $2,960,235. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on WCN. JPMorgan Chase & Co. lowered their target price on Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $205.00 target price on shares of Waste Connections in a report on Thursday, October 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $200.00 price target (up from $195.00) on shares of Waste Connections in a research report on Friday, October 23rd. Deutsche Bank increased their price target on Waste Connections from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, Scotiabank restated an “outperform” rating and set a $201.00 price objective on shares of Waste Connections in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $203.22.

Waste Connections Stock Up 0.5%

Shares of NYSE WCN opened at $192.06 on Thursday. The company has a market capitalization of $47.95 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 3.50 and a beta of 0.43. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $195.34. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day moving average price is $167.08 and its 200-day moving average price is $164.45.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.06. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections’s revenue for the quarter was up 23.8% on a year-over-year basis. Equities analysts forecast that Waste Connections, Inc. will post 5.70 earnings per share for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.3850 per share. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. This is an increase from Waste Connections’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, November 5th. Waste Connections’s payout ratio is currently 34.45%.

About Waste Connections

Waste Connections, Inc. is a North American provider of non-hazardous solid waste services. The company serves residential, commercial, industrial and municipal customers, with operations across the United States and Canada, particularly in secondary markets and rural communities. Its services include waste collection, transfer and disposal, as well as recycling and resource recovery. In select regions, Waste Connections also provides treatment, recovery and disposal services for waste generated by oil and gas exploration and production.