Waste Connections, Inc. $WCN Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd reduced its holdings in Waste Connections, Inc. (NYSE:WCN) by 82.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,314 shares of the business services provider’s stock after selling 133,837 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Waste Connections were worth $5,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Waste Connections by 2.3% during 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. Capital International Investors boosted its stake in shares of Waste Connections by 28.2% in 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 buying an additional 1,420,921 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Waste Connections by 17.6% during the third quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock worth $1,078,536,000 after acquiring an additional 918,245 shares during the period. JPMorgan Chase & Co. raised its position in Waste Connections by 37.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock valued at $835,370,000 after acquiring an additional 1,289,042 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Waste Connections by 39.6% during 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 acquiring an additional 1,264,150 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $156.87 on Wednesday. The firm has a market cap of $39.80 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.75 and a beta of 0.51. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.91. The business’s 50-day moving average price is $157.28 and its 200 day moving average price is $164.80. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN) last announced 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 company 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 was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. On average, equities research analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were issued 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 0.9%. Waste Connections’s payout ratio is presently 34.15%.

Insider Buying and Selling at Waste Connections

In related news, SVP Eric Hansen sold 6,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the transaction, the senior vice president owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. The trade was a 31.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James Little sold 2,605 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the completion of the transaction, the vice president directly owned 34,395 shares of the company’s stock, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WCN has been the subject of several recent research reports. BMO Capital Markets reaffirmed 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. Wolfe Research began coverage on Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 price target on the stock. Barclays set a $180.00 price objective on Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, Weiss Ratings cut shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Three investment 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 data from MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $202.84.

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.