Dempze Nancy E Makes New Investment in Waste Connections, Inc. $WCN

Dempze Nancy E acquired a new position in Waste Connections, Inc. (NYSE:WCNFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,340 shares of the business services provider’s stock, valued at approximately $543,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Waste Connections during the 4th quarter valued at about $697,519,000. Capital International Investors grew its stake in Waste Connections by 28.2% during the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock worth $1,134,781,000 after purchasing an additional 1,420,921 shares during the period. JPMorgan Chase & Co. increased its holdings in Waste Connections by 37.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after purchasing an additional 1,289,042 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 buying an additional 1,264,150 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Waste Connections by 58.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider’s stock valued at $508,600,000 after buying an additional 1,065,653 shares during the period. 86.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Patrick James Shea sold 7,500 shares of the stock in a transaction 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 sale, the vice president directly owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This represents a 27.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the purchase, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This represents a 19.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is currently owned by company insiders.

Waste Connections Stock Up 0.9%

Shares of NYSE WCN opened at $169.52 on Friday. The stock has a market capitalization of $42.78 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.94 and a beta of 0.49. The company has a 50-day moving average price of $161.36 and a 200-day moving average price of $163.28. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.69.

Waste Connections (NYSE:WCNGet Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is 33.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday. Finally, Citigroup upped their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.05.

Get Our Latest Stock Analysis on WCN

About Waste Connections

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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