BI Asset Management Fondsmaeglerselskab A S Has $933,000 Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• BI Asset Management Fondsmaeglerselskab A S sharply reduced its Waste Connections stake, cutting its holdings by 91.8% in the fourth quarter to 5,320 shares worth about $933,000.
• Waste Connections posted mixed quarterly results, beating EPS estimates at $1.23 per share but missing revenue expectations with $2.33 billion in sales, though revenue still rose 6.4% year over year.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $202.84, while insiders showed mixed activity with the CEO buying shares and the COO selling shares.

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 91.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,320 shares of the business services provider's stock after selling 59,561 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Waste Connections were worth $933,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Waste Connections by 2.3% during the third quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider's stock worth $5,552,682,000 after buying an additional 717,440 shares in the last quarter. Mackenzie Financial Corp grew its position in Waste Connections by 17.6% during the third quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider's stock worth $1,078,536,000 after buying an additional 918,245 shares in the last quarter. Wellington Management Group LLP grew its position in Waste Connections by 39.6% during the third quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider's stock worth $783,218,000 after buying an additional 1,264,150 shares in the last quarter. Norges Bank acquired a new stake in Waste Connections during the fourth quarter worth about $697,519,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Waste Connections by 5.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,508,405 shares of the business services provider's stock valued at $615,278,000 after purchasing an additional 190,123 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

NYSE:WCN opened at $157.63 on Wednesday. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $192.72. The firm has a 50 day moving average of $158.01 and a 200-day moving average of $165.46. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $39.99 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51.

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

Waste Connections Dividend Announcement

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

Insider Buying and Selling

In other news, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the purchase, 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 SEC filing for this purchase provides additional information. Insiders have sold a total of 17,605 shares of company stock valued at $2,822,923 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WCN shares. TD Cowen decreased their price objective on Waste Connections from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a report on Friday, February 13th. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the company an "overweight" rating in a report on Friday, February 13th. Weiss Ratings downgraded Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Connections has an average rating of "Moderate Buy" and a consensus price target of $202.84.

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.

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.