Swiss National Bank Increases Position in Waste Connections, Inc. $WCN

Swiss National Bank grew its holdings in Waste Connections, Inc. (NYSE:WCN) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751,345 shares of the business services provider’s stock after purchasing an additional 45,700 shares during the quarter. Swiss National Bank owned about 0.29% of Waste Connections worth $122,048,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in shares of Waste Connections in the 1st quarter valued at $577,000. Invesco Ltd. grew its holdings in shares of Waste Connections by 12.8% during the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock worth $40,946,000 after purchasing an additional 24,948 shares during the period. First Trust Advisors LP increased its position in shares of Waste Connections by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock worth $4,572,000 after purchasing an additional 688 shares during the last quarter. Jump Financial LLC purchased a new stake in Waste Connections in the 2nd quarter valued at about $2,714,000. Finally, State Street Corp raised its holdings in Waste Connections by 1.0% in the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock valued at $337,708,000 after buying an additional 17,197 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Waste Connections

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 transaction 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 represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eric Hansen sold 6,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the transaction, the senior vice president directly owned 13,350 shares in the company, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,605 shares of company stock worth $2,822,923 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on WCN shares. Royal Bank Of Canada restated an “outperform” rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. BMO Capital Markets reaffirmed 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. Citigroup boosted their price objective on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. decreased their target price on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. Three 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Waste Connections Price Performance

WCN stock opened at $170.93 on Tuesday. The business has a 50 day moving average price of $160.19 and a 200 day moving average price of $163.39. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock has a market cap of $43.13 billion, a price-to-earnings ratio of 41.69, a PEG ratio of 3.02 and a beta of 0.49. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $191.91.

Waste Connections (NYSE:WCN) last announced its 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 firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. Equities research analysts anticipate that Waste Connections, Inc. will post 5.49 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

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.