Waste Connections, Inc. $WCN Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Waste Connections, Inc. (NYSE:WCN) by 33.7% in the first quarter, HoldingsChannel.com reports. The firm owned 2,325,461 shares of the business services provider’s stock after selling 1,182,944 shares during the period. Pictet Asset Management Holding SA’s holdings in Waste Connections were worth $377,723,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Waste Connections during the 3rd quarter valued at about $1,911,000. Trium Capital LLP acquired a new position in shares of Waste Connections in the 4th quarter worth approximately $1,995,000. Procyon Advisors LLC bought a new stake in shares of Waste Connections in the 4th quarter worth approximately $1,908,000. Gradient Investments LLC raised its holdings in shares of Waste Connections by 18.5% in the 4th quarter. Gradient Investments LLC now owns 145,595 shares of the business services provider’s stock worth $25,532,000 after purchasing an additional 22,722 shares in the last quarter. Finally, Nicholas Company Inc. lifted its stake in Waste Connections by 32.4% during the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock valued at $78,756,000 after purchasing an additional 109,950 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

Shares of WCN opened at $168.07 on Friday. The company has a market capitalization of $42.64 billion, a price-to-earnings ratio of 40.99, a P/E/G ratio of 2.98 and a beta of 0.51. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week 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 business’s 50-day moving average is $156.83 and its 200-day moving average is $164.04.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. Equities research analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

Insider Activity at Waste Connections

In other news, VP James Little sold 2,605 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares of the company’s stock, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the acquisition, the chief executive officer owned 301,017 shares of the company’s stock, valued at $45,826,828.08. This represents a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WCN. Royal Bank Of Canada restated an “outperform” rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. Wolfe Research assumed coverage on Waste Connections in a research note on Friday, March 13th. They set an “outperform” rating and a $199.00 price objective for the company. 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.84.

Waste Connections Company 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.