Tandem Investment Advisors Inc. Cuts Position in Waste Connections, Inc. $WCN

Tandem Investment Advisors Inc. trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN) by 10.7% during the first quarter, Holdings Channel reports. The firm owned 324,023 shares of the business services provider’s stock after selling 38,757 shares during the quarter. Waste Connections makes up approximately 2.6% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 20th biggest holding. Tandem Investment Advisors Inc.’s holdings in Waste Connections were worth $52,634,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. City Holding Co. acquired a new stake in shares of Waste Connections in the fourth quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections during the 3rd quarter worth about $26,000. Transamerica Financial Advisors LLC boosted its holdings in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Whipplewood Advisors LLC boosted its holdings in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 175 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Waste Connections in the 4th quarter valued at about $36,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $172.01 on Friday. The company’s fifty day moving average price is $159.79 and its 200 day moving average price is $163.54. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.91. 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 firm has a market capitalization of $43.40 billion, a P/E ratio of 41.95, a P/E/G ratio of 3.02 and a beta of 0.49.

Waste Connections (NYSE:WCN) last released 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 company had revenue of $2.33 billion during 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%. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.49 earnings per share for the current fiscal 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. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections’s payout ratio is presently 34.15%.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Barclays set a $180.00 price objective on shares of Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Citigroup upped their target price on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Finally, The Goldman Sachs Group reiterated 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 assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Insider Transactions at Waste Connections

In related news, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction dated 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 sale, the vice president directly owned 19,737 shares of the company’s stock, valued at $3,084,103.62. This represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Hansen sold 6,000 shares of the firm’s 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 transaction, the senior vice president owned 13,350 shares in the company, valued at $2,200,347. This represents a 31.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,605 shares of company stock worth $2,822,923. Insiders own 0.27% of the company’s stock.

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.