Delta Global Management LP Has $1.26 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Delta Global Management LP cut its Waste Connections stake by 49.9% in the fourth quarter, leaving it with 7,205 shares worth about $1.26 million.
• Waste Connections reported Q1 EPS of $1.23, beating analyst estimates, though revenue of $2.33 billion fell short of expectations even as it rose 6.4% year over year.
• The company paid a quarterly dividend of $0.35 per share, while analysts remain mostly positive with a consensus Moderate Buy rating and an average price target of $202.84.

Delta Global Management LP trimmed its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 49.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,205 shares of the business services provider's stock after selling 7,165 shares during the period. Delta Global Management LP's holdings in Waste Connections were worth $1,263,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. City Holding Co. acquired a new stake in shares of Waste Connections in the 4th quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Waste Connections in the 3rd quarter valued at approximately $30,000. Transamerica Financial Advisors LLC raised its position in shares of Waste Connections by 346.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock valued at $31,000 after acquiring an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Waste Connections in the 4th quarter valued at approximately $36,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

NYSE WCN opened at $156.87 on Wednesday. The business has a 50 day simple moving average of $157.28 and a 200 day simple moving average of $164.80. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.91. 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 stock has a market cap of $39.80 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.75 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, topping analysts' consensus estimates of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the business earned $1.13 EPS. Waste Connections's revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors 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 of this dividend was Wednesday, May 6th. Waste Connections's dividend payout ratio is presently 34.15%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WCN shares. Wolfe Research started coverage on shares of Waste Connections in a research report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price target on the stock. Barclays set a $180.00 price target on shares of Waste Connections and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. The Goldman Sachs Group reiterated a "buy" rating and issued a $211.00 price target on shares of Waste Connections in a research report on Thursday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Three research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $202.84.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares in the company, valued at $45,826,828.08. This trade represents a 19.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Little sold 2,605 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares of the company's stock, valued at $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,605 shares of company stock worth $2,822,923 in the last quarter. Company insiders own 0.27% of the company's stock.

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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