Public Employees Retirement Association of Colorado Reduces Stock Holdings in Waste Connections, Inc. $WCN

Public Employees Retirement Association of Colorado lessened its position in shares of Waste Connections, Inc. (NYSE:WCN) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,218,929 shares of the business services provider’s stock after selling 87,234 shares during the quarter. Waste Connections accounts for 0.8% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 24th largest position. Public Employees Retirement Association of Colorado owned approximately 0.48% of Waste Connections worth $213,751,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Waste Connections during the 3rd quarter valued at about $1,911,000. Cidel Asset Management Inc. grew its stake in Waste Connections by 19.5% during the 3rd quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock valued at $28,780,000 after purchasing an additional 26,684 shares during the last quarter. Trium Capital LLP purchased a new stake in Waste Connections during the 4th quarter valued at about $1,995,000. Procyon Advisors LLC purchased a new stake in Waste Connections during the 4th quarter valued at about $1,908,000. Finally, Gradient Investments LLC grew its stake in Waste Connections by 18.5% during the 4th quarter. Gradient Investments LLC now owns 145,595 shares of the business services provider’s stock valued at $25,532,000 after purchasing an additional 22,722 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

WCN has been the topic of several research analyst reports. Wolfe Research initiated coverage on Waste Connections in a research note on Friday, March 13th. They set an “outperform” rating and a $199.00 price target on the stock. Barclays set a $180.00 price target on Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.84.

Insider Buying and Selling

In other Waste Connections news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This trade represents a 19.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James Little sold 2,605 shares of the company’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 completion of the transaction, the vice president directly owned 34,395 shares of the company’s stock, valued at $5,640,092.10. The trade was a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,605 shares of company stock worth $2,822,923 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Waste Connections Stock Down 0.1%

Shares of WCN opened at $155.88 on Monday. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $192.72. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $39.55 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.77 and a beta of 0.51. The stock’s 50-day moving average price is $157.68 and its 200-day moving average price is $165.10.

Waste Connections (NYSE:WCN) last issued 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 the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s dividend payout ratio is presently 34.15%.

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.