Hsbc Holdings PLC Cuts Stock Holdings in Waste Connections, Inc. $WCN

Hsbc Holdings PLC lowered its stake in Waste Connections, Inc. (NYSE:WCN) by 44.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,378 shares of the business services provider’s stock after selling 98,127 shares during the quarter. Hsbc Holdings PLC’s holdings in Waste Connections were worth $21,145,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WCN. City Holding Co. purchased a new stake in shares of Waste Connections in the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new position in Waste Connections during the 3rd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after buying an additional 135 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in Waste Connections in the 3rd quarter worth approximately $30,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Waste Connections in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

NYSE:WCN opened at $166.36 on Thursday. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.83 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91. The business has a 50 day simple moving average of $156.54 and a 200-day simple moving average of $164.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69.

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

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is currently 34.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WCN shares. Barclays set a $180.00 target price on Waste Connections and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group restated a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. 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 report on Friday, April 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $208.00 price objective (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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.84.

Insider Transactions at Waste Connections

In other news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This trade represents 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 available at this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the transaction, the vice president owned 19,737 shares of the company’s stock, valued at $3,084,103.62. This trade represents a 27.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is currently owned by insiders.

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.