Waste Connections, Inc. $WCN Shares Bought by Capital International Investors

Capital International Investors increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 28.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,468,259 shares of the business services provider’s stock after buying an additional 1,420,921 shares during the period. Capital International Investors’ holdings in Waste Connections were worth $1,134,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. City Holding Co. acquired a new position in Waste Connections in the 4th quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Waste Connections in the 3rd quarter valued at $30,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Waste Connections in the 4th quarter valued at $36,000. Finally, Entrust Financial LLC acquired a new position in Waste Connections in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

WCN opened at $155.29 on Friday. The stock’s 50-day moving average price is $158.05 and its 200 day moving average price is $165.73. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $193.08. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.76 and a beta of 0.51.

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. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company earned $1.13 EPS. Waste Connections’s revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were paid a dividend of $0.35 per share. 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 is presently 34.15%.

Insider Buying and Selling

In related news, VP James Little sold 2,605 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president owned 34,395 shares of the company’s stock, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares in the company, valued at $45,826,828.08. This represents a 19.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WCN shares. JPMorgan Chase & Co. increased their price objective on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. TD Cowen decreased their target price on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Weiss Ratings lowered shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Four 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 MarketBeat, Waste Connections currently has a consensus rating of “Buy” and a consensus target price of $203.35.

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.