2,867,268 Shares in Waste Connections, Inc. $WCN Purchased by Wellington Management Group LLP

Key Points

• Wellington Management purchased 2.87 million Waste Connections shares worth approximately $477.9 million, taking a 1.14% stake. Institutional investors collectively own 86.09% of the company.
• Waste Connections reported quarterly EPS of $1.50, beating estimates by $0.15, while revenue rose 6.4% year over year to $2.56 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $200.89.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 0.8% yield. Shares recently traded near $166, while insiders sold approximately $2.3 million of stock over the prior 90 days.

Wellington Management Group LLP purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,867,268 shares of the business services provider's stock, valued at approximately $477,944,000. Wellington Management Group LLP owned 1.14% of Waste Connections as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the 3rd quarter worth approximately $26,000. Group One Trading LLC acquired a new stake in Waste Connections in the 2nd quarter valued at $30,000. Whipplewood Advisors LLC boosted its stake in Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after buying an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in Waste Connections by 346.2% in the fourth 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. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Waste Connections in the fourth quarter valued at $36,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Trading Up 0.3%

Shares of WCN opened at $166.19 on Friday. The stock has a fifty day moving average price of $167.73 and a two-hundred day moving average price of $163.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $185.33. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.85 and a beta of 0.48.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The business's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio is 33.73%.

Analyst Upgrades and Downgrades

WCN has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on Waste Connections from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Monday, July 13th. TD Cowen reaffirmed a "buy" rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Citigroup increased their target price on shares of Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Waste Connections in a report on Friday, August 7th. Finally, Barclays lifted their price target on shares of Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Two 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. Based on data from MarketBeat.com, Waste Connections currently has an average rating of "Moderate Buy" and an average price target of $200.89.

Insider Activity at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president owned 734 shares of the company's stock, valued at $122,262.38. This represents a 77.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason Craft sold 1,500 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the sale, the chief operating officer owned 32,861 shares of the company's stock, valued at $5,145,703.99. The trade was a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,311 shares of company stock worth $2,303,997 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

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.

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