Tredje AP fonden Acquires Shares of 154,800 Waste Connections, Inc. $WCN

Tredje AP fonden acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 154,800 shares of the business services provider’s stock, valued at approximately $27,146,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in Waste Connections by 55.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider’s stock worth $350,603,000 after buying an additional 711,990 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Waste Connections during the third quarter valued at approximately $1,911,000. Cidel Asset Management Inc. raised its holdings in shares of Waste Connections by 19.5% during the third quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock valued at $28,780,000 after acquiring an additional 26,684 shares in the last quarter. Procyon Advisors LLC purchased a new stake in Waste Connections in the fourth quarter worth $1,908,000. Finally, Fisher Funds Management LTD lifted its stake in Waste Connections by 51.2% in the third quarter. Fisher Funds Management LTD now owns 88,336 shares of the business services provider’s stock worth $15,529,000 after acquiring an additional 29,925 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Up 1.5%

Shares of NYSE:WCN opened at $159.01 on Tuesday. The business’s 50 day moving average is $161.33 and its 200 day moving average is $167.12. The stock has a market cap of $40.58 billion, a P/E ratio of 38.78, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. Waste Connections, Inc. has a 52-week low of $148.84 and a 52-week high of $198.00. 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 issued its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $1.13 EPS. Waste Connections’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Wednesday, May 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s dividend payout ratio is 34.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WCN shares. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the company an “overweight” rating in a research report on Friday, February 13th. Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Oppenheimer reissued an “outperform” rating and set a $205.00 price target (down from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. TD Cowen dropped their price target on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Waste Connections has a consensus rating of “Buy” and a consensus price target of $203.35.

Insider Buying and Selling

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James Little sold 2,605 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares in the company, valued at $5,640,092.10. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by insiders.

Waste Connections 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.