58,723 Shares in Waste Connections, Inc. $WCN Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 58,723 shares of Waste Connections in the second quarter, valued at approximately $9.8 million. Institutional investors collectively own 86.09% of the company.
• Waste Connections exceeded quarterly expectations, reporting $1.50 EPS on $2.56 billion in revenue, with revenue up 6.4% year over year.
• The company pays a quarterly dividend of $0.35 per share, representing a 0.8% yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $200.89.

Nykredit A S purchased a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,723 shares of the business services provider's stock, valued at approximately $9,788,000.

Several other hedge funds have also bought and sold shares of WCN. Integrated Wealth Concepts LLC acquired a new position in shares of Waste Connections in the 1st quarter valued at $577,000. Invesco Ltd. raised its position in shares of Waste Connections by 12.8% in the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock worth $40,946,000 after acquiring an additional 24,948 shares during the period. First Trust Advisors LP raised its position in shares of Waste Connections by 2.9% in the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock worth $4,572,000 after acquiring an additional 688 shares during the period. Jump Financial LLC purchased a new stake in shares of Waste Connections during the 2nd quarter worth about $2,714,000. Finally, State Street Corp boosted its stake in shares of Waste Connections by 1.0% during the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock worth $337,708,000 after acquiring an additional 17,197 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Down 1.2%

WCN opened at $164.85 on Friday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $181.28. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $167.96 and a 200 day moving average price of $163.06. The company has a market cap of $41.47 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 2.83 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the firm posted $1.29 EPS. Waste Connections's revenue was up 6.4% compared to the same quarter last year. Sell-side analysts expect that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company 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. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, August 6th. Waste Connections's payout ratio is presently 33.73%.

Insider Buying and Selling at Waste Connections

In other 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 value of $416,425.00. Following the completion of the sale, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. This represents a 77.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Cloninger sold 2,811 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WCN shares. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $199.00 price target on shares of Waste Connections in a research note on Friday, July 24th. JPMorgan Chase & Co. lowered their price target on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. TD Cowen reissued a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Citigroup boosted 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. Finally, UBS Group reiterated a "neutral" rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Two research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.89.

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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