Eric Hansen Sells 6,000 Shares of Waste Connections (NYSE:WCN) Stock

Key Points

• Eric Hansen sold 6,000 shares of Waste Connections on April 30 at an average price of $164.82 for a total of $988,920, leaving him with 13,350 shares and a 31.01% reduction in his stake, as disclosed to the SEC.
• Waste Connections reported quarterly EPS of $1.23 (beating estimates by $0.04) but revenue of $2.33 billion missed consensus, and the company declared a quarterly dividend of $0.35 per share (annualized $1.40, yield 0.9%, ex-dividend May 6, payable May 21).
• The stock traded around $160.48 (down ~0.5%), the company has a market cap near $41 billion, roughly 86% institutional ownership, and a consensus analyst rating of "Buy" with a $203.35 price target.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction dated 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 of the company's stock, valued at $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Waste Connections Stock Down 0.5%

NYSE WCN traded down $0.75 during trading on Monday, reaching $160.48. 936,002 shares of the company's stock were exchanged, compared to its average volume of 1,618,100. The stock has a market cap of $40.96 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.55. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day moving average price of $164.21 and a two-hundred day moving average price of $168.53. Waste Connections, Inc. has a 1 year low of $154.90 and a 1 year high of $199.00.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 16.49% and a net margin of 10.97%.Waste Connections's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

Hedge Funds Weigh In On Waste Connections

Several institutional investors have recently added to or reduced their stakes in WCN. Norges Bank acquired a new position in Waste Connections during the 4th quarter worth approximately $697,519,000. Capital International Investors lifted its holdings 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 acquiring an additional 1,420,921 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 1,289,042 shares during the period. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 1,264,150 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 1,065,653 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on WCN shares. UBS Group set a $205.00 target price on Waste Connections in a research report on Monday, January 5th. JPMorgan Chase & Co. lifted their target price on Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce set a $208.00 target price on Waste Connections in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft set a $212.00 target price on Waste Connections in a research report on Friday, February 13th. Finally, Scotiabank set a $197.00 target price on Waste Connections and gave the stock a "sector outperform" rating in a research report on Friday, February 13th. Four 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 MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $203.35.

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.

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