Waste Connections, Inc. $WCN Shares Acquired by Sit Investment Associates Inc.

Sit Investment Associates Inc. increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,766 shares of the business services provider’s stock after acquiring an additional 6,173 shares during the quarter. Sit Investment Associates Inc.’s holdings in Waste Connections were worth $12,059,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WCN. Norges Bank purchased a new position in shares of Waste Connections during the 4th quarter worth $697,519,000. Capital International Investors grew its position in shares of Waste Connections by 28.2% in the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock valued at $1,134,781,000 after purchasing an additional 1,420,921 shares during the period. JPMorgan Chase & Co. increased its stake in Waste Connections by 37.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock valued at $835,370,000 after purchasing an additional 1,289,042 shares during the last quarter. Wellington Management Group LLP increased its stake in Waste Connections by 39.6% in the third quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock valued at $783,218,000 after purchasing an additional 1,264,150 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Waste Connections by 58.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider’s stock worth $508,600,000 after buying an additional 1,065,653 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an “overweight” rating in a report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 price target on shares of Waste Connections in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Finally, Wolfe Research initiated coverage on shares of Waste Connections in a research note on Friday, March 13th. They set an “outperform” rating and a $199.00 price objective for the company. Three 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’s stock. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and an average price target of $202.84.

Insider Activity at Waste Connections

In related news, COO Jason Craft sold 1,500 shares of the firm’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 sale, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eric Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. This represents a 31.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,605 shares of company stock valued at $2,822,923 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Waste Connections Stock Down 2.1%

WCN opened at $155.63 on Friday. The company has a market cap of $39.49 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 2.82 and a beta of 0.51. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $192.72. The firm has a 50 day moving average price of $157.82 and a 200 day moving average price of $165.22.

Waste Connections (NYSE:WCN) last released its quarterly earnings data 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. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

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

About Waste Connections

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.