Telemark Asset Management LLC Decreases Stock Position in Waste Connections, Inc. $WCN

Telemark Asset Management LLC cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 120,000 shares of the business services provider’s stock after selling 30,000 shares during the quarter. Waste Connections comprises 2.1% of Telemark Asset Management LLC’s holdings, making the stock its 11th largest position. Telemark Asset Management LLC’s holdings in Waste Connections were worth $21,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. City Holding Co. purchased a new stake in Waste Connections in the fourth quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections in the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Waste Connections in the third quarter valued at about $30,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Waste Connections in the fourth quarter valued at about $36,000. Finally, Entrust Financial LLC purchased a new stake in Waste Connections in the fourth quarter valued at about $37,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.9%

Waste Connections stock opened at $155.29 on Friday. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $193.08. The business’s 50-day moving average price is $158.05 and its 200 day moving average price is $165.73. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13.

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

Waste Connections Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost 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 in the company, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Little sold 2,605 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the sale, the vice president directly owned 34,395 shares in the company, valued at approximately $5,640,092.10. This trade represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WCN. Barclays set a $180.00 price objective on Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a report on Friday, February 13th. 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 report on Friday, April 24th. Wolfe Research began coverage on Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective on the stock. Finally, Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Four 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $203.35.

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.