Capital Innovations LLC Makes New $4.17 Million Investment in Waste Connections, Inc. $WCN

Key Points

• Capital Innovations LLC opened a new position in Waste Connections, buying 23,801 shares valued at about $4.17 million in the fourth quarter.
• Waste Connections reported better-than-expected quarterly EPS of $1.23, though revenue of $2.33 billion came in below analyst estimates. The company also noted year-over-year revenue growth of 6.4%.
• Investor and insider activity was mixed: CEO Ronald J. Mittelstaedt bought 50,000 shares, while SVP Eric Hansen sold 6,000 shares. Analysts remain broadly positive, with an average Buy rating and a consensus price target of $203.35.

Capital Innovations LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 23,801 shares of the business services provider's stock, valued at approximately $4,174,000.

Other institutional investors also recently bought and sold shares of the company. Bridges Investment Management Inc. boosted its stake in shares of Waste Connections by 37.2% in the fourth quarter. Bridges Investment Management Inc. now owns 2,255 shares of the business services provider's stock valued at $395,000 after purchasing an additional 612 shares during the period. Essex Financial Services Inc. purchased a new position in shares of Waste Connections in the fourth quarter valued at $225,000. MUFG Securities EMEA plc purchased a new position in shares of Waste Connections in the fourth quarter valued at $15,788,000. DT Investment Partners LLC boosted its stake in shares of Waste Connections by 112.5% in the fourth quarter. DT Investment Partners LLC now owns 580 shares of the business services provider's stock valued at $102,000 after purchasing an additional 307 shares during the period. Finally, Norges Bank purchased a new position in shares of Waste Connections in the fourth quarter valued at $697,519,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Trading Down 0.4%

NYSE WCN opened at $148.93 on Wednesday. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $195.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $37.79 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.65 and a beta of 0.51. The company's fifty day moving average price is $158.66 and its two-hundred day moving average price is $166.17.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 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 firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $1.13 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, May 6th. Waste Connections's dividend payout ratio is 34.15%.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the transaction, the senior vice president directly owned 13,350 shares in the company, valued at $2,200,347. This represents a 31.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of Waste Connections stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WCN. Barclays set a $180.00 target price on shares of Waste Connections and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research note on Friday, February 13th. Stifel Nicolaus set a $213.00 target price on shares of Waste Connections and gave the company a "buy" rating in a research note on Friday, February 13th. Wolfe Research began coverage on shares of Waste Connections in a research note on Friday, March 13th. They issued an "outperform" rating and a $199.00 target price for the company. Finally, Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the company an "overweight" rating in a research note on Friday, February 13th. Four investment 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $203.35.

Waste Connections 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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