67,860 Shares in Waste Connections, Inc. $WCN Acquired by PBU The Pension Fund of Early Childhood & Youth Educators

Key Points

• PBU The Pension Fund of Early Childhood & Youth Educators opened a new position in Waste Connections, buying 67,860 shares valued at about $11.9 million in the fourth quarter.
• Wall Street remains constructive on WCN: analysts currently have an average rating of “Buy” with an average price target of $203.35, and several firms recently raised or reiterated bullish targets.
• Company insiders were active, with CEO Ronald J. Mittelstaedt buying 50,000 shares, while VP James Little sold 2,605 shares; Waste Connections also reported quarterly EPS of $1.23, topping estimates.

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 67,860 shares of the business services provider's stock, valued at approximately $11,900,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the third quarter worth approximately $26,000. City Holding Co. acquired a new position in shares of Waste Connections in the fourth quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Waste Connections in the third quarter worth approximately $30,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Waste Connections in the fourth quarter worth approximately $36,000. Finally, Entrust Financial LLC acquired a new position in shares of Waste Connections in the fourth quarter worth approximately $37,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Wolfe Research started coverage on Waste Connections in a research note on Friday, March 13th. They issued an "outperform" rating and a $199.00 price objective on the stock. Scotiabank set a $197.00 price target on Waste Connections and gave the company a "sector outperform" rating in a research note on Friday, February 13th. 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. Finally, Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an "overweight" rating in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections presently has an average rating of "Buy" and an average price target of $203.35.

Insider Activity

In other news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James Little sold 2,605 shares of the business'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 value of $427,167.90. Following the sale, the vice president owned 34,395 shares of the company's stock, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.27% of the company's stock.

Waste Connections Price Performance

Shares of WCN opened at $155.29 on Friday. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $193.08. 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 business's 50 day moving average price is $158.05 and its two-hundred day moving average price is $165.73. The firm has a market cap of $39.40 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company's revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections's payout ratio is currently 34.15%.

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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