Legacy Wealth Asset Management LLC Grows Stock Holdings in Waste Connections, Inc. $WCN

Legacy Wealth Asset Management LLC grew its position in Waste Connections, Inc. (NYSE:WCN) by 68.1% during the second quarter, Holdings Channel reports. The institutional investor owned 15,966 shares of the business services provider’s stock after acquiring an additional 6,470 shares during the quarter. Waste Connections comprises 0.6% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Legacy Wealth Asset Management LLC’s holdings in Waste Connections were worth $2,661,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. City Holding Co. purchased a new stake in Waste Connections during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new position in Waste Connections in the third quarter worth $26,000. Whipplewood Advisors LLC increased its position in shares of Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Waste Connections during the 4th quarter valued at $36,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE WCN opened at $166.66 on Monday. The company has a market cap of $41.93 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 2.86 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. The stock’s fifty day moving average price is $163.99 and its 200 day moving average price is $163.24. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.00.

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

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections’s dividend payout ratio (DPR) is presently 33.73%.

Insider Transactions at Waste Connections

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the transaction, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the purchase, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 11,811 shares of company stock worth $1,887,572. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

WCN has been the subject of a number of recent analyst reports. Barclays raised their price objective on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their price objective on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, Citigroup increased their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.89.

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.