Key Points
- Eric Hansen, SVP of Waste Connections, sold 6,000 shares on April 30 at an average price of $164.82 for a total of $988,920, reducing his stake by 31.01% to 13,350 shares (valued at about $2.20M); the sale was disclosed in an SEC filing.
- Waste Connections reported Q1 EPS of $1.23 versus $1.19 expected while revenue missed at $2.33B versus $2.50B consensus, with revenue up 6.4% year-over-year and a market capitalization around $40.96B.
- The company declared a quarterly dividend of $0.35 per share (annualized $1.40, ~0.9% yield) with an ex-dividend date of May 6, and analysts have an average rating of "Buy" with an average price target of $203.35.
Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the sale, the senior vice president directly owned 13,350 shares in the company, valued at $2,200,347. The trade was a 31.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Waste Connections Stock Performance
Shares of NYSE WCN opened at $160.48 on Tuesday. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.86 and a beta of 0.55. Waste Connections, Inc. has a one year low of $154.90 and a one year high of $199.00. The business has a fifty day simple moving average of $164.21 and a 200 day simple moving average of $168.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13.
Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. The firm 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 business's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 earnings per share. Sell-side analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current year.
Waste Connections Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 6th. Waste Connections's payout ratio is 34.15%.
Hedge Funds Weigh In On Waste Connections
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Waste Connections by 2.3% during the third quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider's stock worth $5,552,682,000 after buying an additional 717,440 shares in the last quarter. Capital International Investors boosted its holdings in shares of Waste Connections by 28.2% in the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after acquiring an additional 1,420,921 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Waste Connections by 17.6% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. grew its position in Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock worth $835,370,000 after acquiring an additional 1,289,042 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Waste Connections by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,675,737 shares of the business services provider's stock worth $819,939,000 after acquiring an additional 220,575 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Waste Connections from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. BNP Paribas Exane initiated coverage on Waste Connections in a research note on Tuesday, January 6th. They issued an "outperform" rating on the stock. Barclays set a $180.00 target price on Waste Connections and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Citigroup restated a "neutral" rating and set a $183.00 target price (down from $196.00) on shares of Waste Connections in a research report on Friday, January 16th. Finally, Wolfe Research initiated coverage on Waste Connections in a research report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of "Buy" and an average price target of $203.35.
Check Out Our Latest Report on Waste Connections
Waste Connections Company Profile
(
Get 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.
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