56,433 Shares in Waste Connections, Inc. $WCN Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP bought a new stake in Waste Connections during the first quarter, acquiring 56,433 shares valued at about $9.17 million.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus rating and an average price target of $202.05; several firms recently reiterated buy/outperform views.
• Waste Connections reported strong quarterly results, including EPS of $1.50 versus the $1.35 estimate and revenue of $2.56 billion, while also announcing a $0.35 quarterly dividend.

Entropy Technologies LP purchased a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,433 shares of the business services provider's stock, valued at approximately $9,167,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors grew its stake in Waste Connections by 28.2% during the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after buying an additional 1,420,921 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Waste Connections by 37.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock valued at $835,370,000 after buying an additional 1,289,042 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Waste Connections by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,675,737 shares of the business services provider's stock worth $819,939,000 after acquiring an additional 220,575 shares during the period. Norges Bank bought a new stake in shares of Waste Connections during the 4th quarter worth approximately $697,519,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Waste Connections by 5.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,508,405 shares of the business services provider's stock worth $615,278,000 after acquiring an additional 190,123 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $199.00 target price on shares of Waste Connections in a report on Friday. Barclays set a $180.00 price target on Waste Connections and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. lowered their price target on Waste Connections from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $202.05.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of Waste Connections stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer directly owned 301,017 shares of the company's stock, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the company's 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 transaction, the vice president owned 19,737 shares of the company's stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,605 shares of company stock worth $2,822,923 over the last quarter. Insiders own 0.27% of the company's stock.

Waste Connections Trading Up 0.9%

Shares of WCN stock opened at $169.52 on Friday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The stock's fifty day simple moving average is $161.36 and its 200 day simple moving average is $163.28. The company has a quick ratio of 0.69, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $42.78 billion, a P/E ratio of 40.85, a P/E/G ratio of 2.94 and a beta of 0.49.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.35 by $0.15. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The business's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio (DPR) is currently 33.73%.

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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