Northwestern Mutual Wealth Management Co. Cuts Stake in Waste Connections, Inc. $WCN

Northwestern Mutual Wealth Management Co. decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 70.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,967 shares of the business services provider’s stock after selling 12,103 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Waste Connections were worth $828,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC bought a new position in shares of Waste Connections in the 3rd quarter worth approximately $26,000. Group One Trading LLC bought a new stake in Waste Connections during the second quarter valued at about $30,000. Whipplewood Advisors LLC raised its stake in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares during the period. Transamerica Financial Advisors LLC boosted its position in shares of Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Waste Connections during the fourth quarter valued at about $36,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Waste Connections

In related news, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. This trade represents a 77.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert Cloninger sold 2,811 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Waste Connections Stock Down 1.2%

WCN stock opened at $164.85 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $181.28. The firm’s fifty day moving average is $167.96 and its 200 day moving average is $163.06. The firm has a market cap of $41.47 billion, a PE ratio of 39.72, a P/E/G ratio of 2.83 and a beta of 0.48.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, research analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 6th. Waste Connections’s dividend payout ratio (DPR) is 33.73%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Citigroup upped their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. UBS Group reaffirmed a “neutral” rating and issued a $176.00 price objective (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Barclays increased their target price on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.89.

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.