ClearAlpha Technologies LP Sells 4,424 Shares of Waste Connections, Inc. $WCN

ClearAlpha Technologies LP cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 48.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,686 shares of the business services provider’s stock after selling 4,424 shares during the quarter. Waste Connections comprises approximately 2.3% of ClearAlpha Technologies LP’s portfolio, making the stock its 10th largest holding. ClearAlpha Technologies LP’s holdings in Waste Connections were worth $822,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WCN. Norges Bank acquired a new position in Waste Connections in the fourth quarter valued at $697,519,000. Capital International Investors increased its stake in 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 valued at $1,134,781,000 after purchasing an additional 1,420,921 shares during the period. JPMorgan Chase & Co. increased its stake in Waste Connections by 37.1% in 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 purchasing an additional 1,289,042 shares during the period. Wellington Management Group LLP increased its stake in Waste Connections by 39.6% in 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 purchasing an additional 1,264,150 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Waste Connections by 58.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider’s stock valued at $508,600,000 after purchasing an additional 1,065,653 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the sale, the chief operating officer owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Little sold 2,605 shares of the company’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 completion of the sale, 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. Over the last ninety days, insiders have sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. 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 research note on Friday, April 24th. Weiss Ratings lowered shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. BMO Capital Markets reiterated an “outperform” rating and set a $208.00 price target (up from $206.00) 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 price target on shares of Waste Connections in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.84.

Waste Connections Trading Down 1.3%

Shares of WCN opened at $154.97 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The firm’s 50-day moving average is $157.07 and its two-hundred day moving average is $164.65. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The firm has a market capitalization of $39.32 billion, a P/E ratio of 37.80, a PEG ratio of 2.79 and a beta of 0.51.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results 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. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts predict that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections’s dividend payout ratio is 34.15%.

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.