Waste Connections, Inc. $WCN Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 37.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,890 shares of the business services provider’s stock after selling 55,420 shares during the quarter. BNP Paribas Financial Markets’ holdings in Waste Connections were worth $16,114,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WCN. Norges Bank acquired a new position in Waste Connections in the 4th quarter worth about $697,519,000. Wellington Management Group LLP raised its holdings in Waste Connections by 39.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock worth $783,218,000 after purchasing an additional 1,264,150 shares during the period. Mackenzie Financial Corp raised its holdings in 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. Vanguard Group Inc. raised its holdings in Waste Connections by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider’s stock worth $5,552,682,000 after purchasing an additional 717,440 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Waste Connections by 31.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,263,918 shares of the business services provider’s stock worth $222,197,000 after purchasing an additional 301,389 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

WCN stock opened at $155.29 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $158.05 and a 200-day simple moving average of $165.73. The firm has a market capitalization of $39.40 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $193.08.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $2.33 billion during 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%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Equities research analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Eric Hansen sold 6,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was 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 in the company, valued at approximately $2,200,347. This represents a 31.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the transaction, the chief executive officer directly 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 SEC filing for this purchase provides additional information. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on WCN shares. JPMorgan Chase & Co. boosted their price objective on Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Barclays set a $180.00 price objective on Waste Connections and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research note on Friday, February 13th. Finally, Stifel Nicolaus set a $213.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Friday, February 13th. Four 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 stock. According to MarketBeat, Waste Connections presently has an average rating of “Buy” and an average 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.