Waste Connections, Inc. $WCN Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 20.9% during the first quarter, HoldingsChannel reports. The fund owned 246,283 shares of the business services provider’s stock after selling 64,878 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Waste Connections were worth $40,006,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its position in shares of Waste Connections by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock valued at $533,000 after buying an additional 64 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after buying an additional 64 shares in the last quarter. WPG Advisers LLC boosted its position in shares of Waste Connections by 7.7% in the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after buying an additional 66 shares in the last quarter. RDA Financial Network grew its stake in Waste Connections by 2.8% in the 4th 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 grew its stake in Waste Connections by 12.4% in the 4th 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. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $171.15 on Monday. The company has a 50-day simple moving average of $158.28 and a 200-day simple moving average of $163.67. 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 company has a market cap of $43.42 billion, a PE ratio of 41.74, a price-to-earnings-growth ratio of 3.00 and a beta of 0.49. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.91.

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

Waste Connections Dividend Announcement

The firm also recently disclosed 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 of this dividend was Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s payout ratio is currently 34.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WCN shares. BMO Capital Markets restated an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Citigroup lifted their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday. Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.79.

Insiders Place Their Bets

In related news, VP Patrick James Shea sold 7,500 shares of the company’s 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP James Little sold 2,605 shares of the firm’s 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 sale, the vice president directly owned 34,395 shares in the company, valued at approximately $5,640,092.10. The trade was a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 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 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.