Waste Connections, Inc. $WCN Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,218,929 shares of the business services provider’s stock after selling 87,234 shares during the quarter. Waste Connections accounts for about 0.8% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 24th largest holding. Public Employees Retirement Association of Colorado’s holdings in Waste Connections were worth $213,751,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Ritholtz Wealth Management raised its holdings in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock worth $533,000 after purchasing an additional 64 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Waste Connections by 2.6% during the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 64 shares during the last quarter. WPG Advisers LLC raised its holdings in shares of Waste Connections by 7.7% during the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 66 shares during the last quarter. RDA Financial Network raised its holdings in shares of Waste Connections by 2.8% during the fourth quarter. RDA Financial Network now owns 2,459 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 67 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Waste Connections by 12.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

WCN stock opened at $155.88 on Monday. 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 $157.68 and a 200-day simple moving average of $165.10. The firm has a market capitalization of $39.55 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.77 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $192.72.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on WCN shares. BMO Capital Markets reissued an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. The Goldman Sachs Group reissued a “buy” rating and set a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. Barclays set a $180.00 target price on Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. increased their target price on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.84.

Insiders Place Their Bets

In related news, VP Patrick James Shea sold 7,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the transaction, the vice president directly owned 19,737 shares in the company, valued at approximately $3,084,103.62. This represents a 27.54% 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 bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired 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 of the company’s stock, valued at $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 17,605 shares of company stock valued at $2,822,923. Insiders own 0.27% of the company’s stock.

About Waste Connections

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.