Waste Connections, Inc. $WCN Stock Position Decreased by WCM Investment Management LLC

WCM Investment Management LLC decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 38.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,875,396 shares of the business services provider’s stock after selling 2,410,994 shares during the quarter. Waste Connections makes up approximately 1.4% of WCM Investment Management LLC’s holdings, making the stock its 28th biggest holding. WCM Investment Management LLC’s holdings in Waste Connections were worth $627,272,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Waste Connections

In related news, VP James Little sold 2,605 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the completion of the sale, the vice president directly owned 34,395 shares of the company’s stock, valued at $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of Waste Connections stock in a transaction that occurred 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 acquisition, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This represents a 19.92% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 17,605 shares of company stock worth $2,822,923. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

WCN has been the subject of several recent research reports. BMO Capital Markets restated an “outperform” rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their target price on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Barclays set a $180.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 price target on shares of Waste Connections in a report on Thursday, April 23rd. Three 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Waste Connections Stock Up 0.1%

Waste Connections stock opened at $172.01 on Monday. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $191.91. The stock has a market cap of $43.40 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 3.02 and a beta of 0.49. The company’s 50-day moving average price is $159.79 and its two-hundred day moving average price is $163.44. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts expect that Waste Connections, Inc. will post 5.49 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections’s dividend payout ratio is presently 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.