BNP Paribas Financial Markets Sells 55,420 Shares of Waste Connections, Inc. $WCN

Key Points

• BNP Paribas Financial Markets cut its Waste Connections stake by 37.6% in the fourth quarter, selling 55,420 shares and leaving it with 91,890 shares valued at about $16.1 million.
• Wall Street remains bullish on Waste Connections, with an average analyst rating of “Buy” and an average price target of $203.35; several firms recently raised or reiterated targets in the $199 to $213 range.
• The company reported strong quarterly earnings, posting EPS of $1.23 versus the $1.19 estimate, while revenue rose 6.4% year over year. Waste Connections also paid a quarterly dividend of $0.35 per share, or $1.40 annualized.

BNP Paribas Financial Markets trimmed its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 37.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,890 shares of the business services provider's stock after selling 55,420 shares during the quarter. BNP Paribas Financial Markets' holdings in Waste Connections were worth $16,114,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Waste Connections during the fourth quarter valued at $697,519,000. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $783,218,000 after purchasing an additional 1,264,150 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of 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 valued at $1,078,536,000 after purchasing an additional 918,245 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $5,552,682,000 after purchasing an additional 717,440 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Waste Connections by 31.3% during the third quarter. Two Sigma Investments LP now owns 1,263,918 shares of the business services provider's stock valued at $222,197,000 after acquiring an additional 301,389 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research report on Friday, February 13th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an "overweight" rating in a research report on Friday, February 13th. Stifel Nicolaus set a $213.00 price target on Waste Connections and gave the stock a "buy" rating in a research report on Friday, February 13th. Wolfe Research began coverage on Waste Connections in a research report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $203.35.

Waste Connections Price Performance

NYSE:WCN opened at $155.29 on Friday. The firm has a market capitalization of $39.40 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $193.08. The business has a 50 day simple moving average of $158.05 and a 200-day simple moving average of $165.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69.

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, topping analysts' consensus estimates of $1.19 by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. Equities analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

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

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the sale, the senior vice president owned 13,350 shares in the company, valued at approximately $2,200,347. The trade was a 31.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Little sold 2,605 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $5,640,092.10. The trade was a 7.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company's stock.

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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