6,898 Shares in Waste Connections, Inc. $WCN Bought by Pacific Sun Financial Corp

Key Points

• Pacific Sun Financial Corp acquired 6,898 shares of Waste Connections in the second quarter, valued at approximately $1.15 million. Institutional investors collectively own 86.09% of the company.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS on $2.56 billion in revenue, with revenue rising 6.4% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $200.89, compared with a reported share price of $165.66.

Pacific Sun Financial Corp acquired a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,898 shares of the business services provider's stock, valued at approximately $1,150,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Waste Connections by 0.9% during the 1st quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider's stock worth $1,983,500,000 after buying an additional 106,763 shares during the period. Capital International Investors increased its stake in shares of Waste Connections by 28.2% in the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock valued at $1,134,781,000 after acquiring an additional 1,420,921 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Waste Connections in the 2nd quarter valued at approximately $1,061,947,000. 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 acquiring an additional 1,289,042 shares during the period. Finally, Wellington Management Group LLP boosted its stake in 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 last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Insider Buying and Selling at Waste Connections

In other news, SVP Robert Michael Cloninger sold 2,811 shares of the company'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 of the company's stock, valued at $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the transaction, 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. The SEC filing for this sale provides additional information. Insiders have sold 11,811 shares of company stock valued at $1,887,572 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Waste Connections Stock Performance

Shares of WCN opened at $165.66 on Wednesday. The firm has a market cap of $41.68 billion, a P/E ratio of 39.92, a PEG ratio of 2.86 and a beta of 0.48. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $188.75. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The firm's 50 day moving average price is $165.80 and its two-hundred day moving average price is $163.10.

Waste Connections (NYSE:WCN - Get Free Report) last issued 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 business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.29 earnings per share. On average, analysts forecast that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio is 33.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WCN shares. TD Cowen restated a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. The Goldman Sachs Group reiterated a "buy" rating and issued a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. BMO Capital Markets reissued an "outperform" rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Weiss Ratings reissued a "hold (c)" rating on shares of Waste Connections in a report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.89.

About Waste Connections

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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