DNB Asset Management AS Trims Stock Holdings in Waste Connections, Inc. $WCN

DNB Asset Management AS lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 54.0% during the 4th quarter, HoldingsChannel reports. The fund owned 61,644 shares of the business services provider’s stock after selling 72,222 shares during the period. DNB Asset Management AS’s holdings in Waste Connections were worth $10,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in WCN. Wellington Management Group LLP grew its position in shares of Waste Connections by 39.6% in the third quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock valued at $783,218,000 after purchasing an additional 1,264,150 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Waste Connections by 17.6% during 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 in the last quarter. Vanguard Group Inc. boosted its stake 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. CIBC Asset Management Inc grew its holdings in Waste Connections by 55.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider’s stock valued at $350,603,000 after buying an additional 711,990 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Waste Connections by 31.3% during the third quarter. Two Sigma Investments LP now owns 1,263,918 shares of the business services provider’s stock valued at $222,197,000 after buying an additional 301,389 shares during the period. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $156.70 on Monday. The stock has a market cap of $40.00 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 2.78 and a beta of 0.55. The stock’s 50-day moving average is $161.56 and its 200 day moving average is $167.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 1-year low of $148.84 and a 1-year high of $198.00.

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

Waste Connections Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of Waste Connections stock in a transaction dated 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 purchase, the chief executive officer owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This represents a 19.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Little sold 2,605 shares of Waste Connections 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 owned 34,395 shares in the company, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of analyst reports. Wolfe Research started coverage on shares of Waste Connections in a research report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective for the company. Barclays set a $180.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $203.35.

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.