Callan Family Office LLC Invests $1.63 Million in Waste Connections, Inc. $WCN

Callan Family Office LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the second quarter, Holdings Channel reports. The institutional investor acquired 9,772 shares of the business services provider’s stock, valued at approximately $1,629,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Waste Connections in the first quarter valued at about $577,000. Invesco Ltd. boosted its stake in Waste Connections by 12.8% during the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock worth $40,946,000 after buying an additional 24,948 shares during the period. First Trust Advisors LP increased its position in shares of Waste Connections by 2.9% during the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock valued at $4,572,000 after acquiring an additional 688 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Waste Connections during the second quarter valued at about $2,714,000. Finally, State Street Corp lifted its holdings in shares of Waste Connections by 1.0% in the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock worth $337,708,000 after acquiring an additional 17,197 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

NYSE:WCN opened at $169.81 on Monday. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $188.09. The company has a fifty day simple moving average of $166.53 and a two-hundred day simple moving average of $163.13. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market cap of $42.72 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion for 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 company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.29 earnings per share. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

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

Insider Buying and Selling

In other news, COO Jason Craft sold 1,500 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was 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. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was 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 of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% 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 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on WCN shares. TD Cowen reissued a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Barclays boosted their price objective 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 restated a “neutral” rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. Finally, Citigroup boosted their price target on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Waste Connections currently has an average rating of “Moderate Buy” and an average target price 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.