53,567 Shares in Waste Connections, Inc. $WCN Bought by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in Waste Connections, buying 53,567 shares worth about $8.7 million in the first quarter.
• Several other institutional investors also adjusted holdings, and institutions and hedge funds now own 86.09% of the company’s stock.
• Waste Connections reported Q1 EPS of $1.23, topping estimates, while revenue rose 6.4% year over year; analysts currently rate the stock Moderate Buy with an average target price of $202.

SEB Asset Management AB purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,567 shares of the business services provider's stock, valued at approximately $8,701,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in shares of Waste Connections by 6.5% in the 1st quarter. Swiss National Bank now owns 751,345 shares of the business services provider's stock valued at $122,048,000 after acquiring an additional 45,700 shares during the period. Angeles Wealth Management LLC bought a new stake in shares of Waste Connections in the 1st quarter valued at about $306,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Waste Connections in the 1st quarter valued at about $2,485,000. Beaumont Financial Advisors LLC lifted its stake in Waste Connections by 2.7% in the 1st quarter. Beaumont Financial Advisors LLC now owns 32,940 shares of the business services provider's stock valued at $5,351,000 after purchasing an additional 870 shares during the last quarter. Finally, Marks Group Wealth Management Inc grew its holdings in Waste Connections by 7.4% during the first quarter. Marks Group Wealth Management Inc now owns 2,324 shares of the business services provider's stock worth $378,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Insider Transactions at Waste Connections

In other news, VP James Little sold 2,605 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction 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 trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the sale, the vice president owned 19,737 shares of the company's stock, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 17,605 shares of company stock worth $2,822,923. Company insiders own 0.27% of the company's stock.

Waste Connections Stock Down 1.7%

WCN stock opened at $168.04 on Wednesday. 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 stock has a market capitalization of $42.40 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 3.00 and a beta of 0.49. The business's fifty day moving average price is $160.53 and its two-hundred day moving average price is $163.34.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 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 business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $1.13 earnings per share. Waste Connections's revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WCN. Weiss Ratings downgraded Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Citigroup raised their price objective on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. reduced their target price on Waste Connections from $210.00 to $195.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group reissued a "buy" rating and set a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. Finally, Barclays set a $180.00 price objective on shares of Waste Connections and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Three 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $202.00.

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.

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