Clearbridge Investments LLC Lowers Stock Holdings in Waste Connections, Inc. $WCN

Clearbridge Investments LLC decreased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 907,316 shares of the business services provider’s stock after selling 26,742 shares during the period. Clearbridge Investments LLC’s holdings in Waste Connections were worth $159,107,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WCN. Integrated Wealth Concepts LLC purchased a new stake in Waste Connections during the first quarter valued at about $577,000. Invesco Ltd. increased its holdings in shares of Waste Connections by 12.8% in 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 holdings in shares of Waste Connections by 2.9% in the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock worth $4,572,000 after buying an additional 688 shares during the period. Jump Financial LLC purchased a new position in shares of Waste Connections in the second quarter worth about $2,714,000. Finally, State Street Corp increased its holdings in shares of Waste Connections by 1.0% in the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock worth $337,708,000 after buying an additional 17,197 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Up 0.0%

NYSE WCN opened at $155.29 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $39.40 billion, a PE ratio of 37.87, a PEG ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $193.08. The business’s 50-day moving average is $158.05 and its 200 day moving average is $165.71.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. Sell-side analysts forecast that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is presently 34.15%.

Analyst Ratings Changes

Several research firms have recently commented on WCN. Scotiabank set a $197.00 price objective on Waste Connections and gave the stock a “sector outperform” rating in a report on Friday, February 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, TD Cowen decreased their price objective on Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Four equities 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 MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $203.35.

Insider Buying and Selling

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the purchase, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This trade represents a 19.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Eric Hansen sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president directly owned 13,350 shares in the company, valued at $2,200,347. The trade was a 31.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by insiders.

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.