6,287 Shares in Waste Connections, Inc. $WCN Bought by MQS Management LLC

MQS Management LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,287 shares of the business services provider’s stock, valued at approximately $1,021,000. Waste Connections accounts for approximately 0.7% of MQS Management LLC’s portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors increased its position in Waste Connections by 28.2% during the 4th 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. Mackenzie Financial Corp lifted its position in shares of Waste Connections by 17.6% in the 3rd quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock worth $1,078,536,000 after purchasing an additional 918,245 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Waste Connections by 37.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after purchasing an additional 1,289,042 shares during the period. Wellington Management Group LLP boosted its stake in shares of Waste Connections by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,675,737 shares of the business services provider’s stock valued at $819,939,000 after purchasing an additional 220,575 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Waste Connections during the 4th quarter valued at about $697,519,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 0.2%

Waste Connections stock opened at $166.83 on Wednesday. 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 business’s fifty day simple moving average is $157.11 and its two-hundred day simple moving average is $163.98. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.91. The company has a market capitalization of $42.33 billion, a price-to-earnings ratio of 40.69, a price-to-earnings-growth ratio of 2.97 and a beta of 0.51.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.50 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s dividend payout ratio (DPR) is currently 34.15%.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction dated Thursday, April 30th. The shares were 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 directly owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. The trade was a 31.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. This represents a 27.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,605 shares of company stock worth $2,822,923 in the last 90 days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WCN. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Barclays set a $180.00 target price on Waste Connections and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Wolfe Research assumed coverage on Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and an average target price of $202.84.

Waste Connections 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.