Everstar Asset Management LLC Purchases Shares of 11,973 Waste Connections, Inc. $WCN

Key Points

• Everstar Asset Management initiated a new position in Waste Connections, buying 11,973 shares worth about $2.1 million in the fourth quarter. The stake makes up roughly 1.0% of Everstar’s portfolio.
• Wall Street sentiment on Waste Connections remains broadly positive, with analysts assigning an average "Buy" rating and a consensus target price of $203.35. Recent targets ranged from $180 to $218.
• The company reported quarterly EPS of $1.23, topping expectations, while revenue rose 6.4% year over year to $2.33 billion. It also announced a quarterly dividend of $0.35 per share, payable on May 21.

Everstar Asset Management LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 11,973 shares of the business services provider's stock, valued at approximately $2,100,000. Waste Connections accounts for about 1.0% of Everstar Asset Management LLC's portfolio, making the stock its 28th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. bought a new position in shares of Waste Connections during the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC bought a new position in shares of Waste Connections during the 3rd quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Waste Connections during the 3rd quarter worth approximately $30,000. Greykasell Wealth Strategies Inc. boosted its stake in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 161 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of Waste Connections by 121.9% during the 4th quarter. Valley National Advisers Inc. now owns 304 shares of the business services provider's stock worth $52,000 after acquiring an additional 167 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WCN has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a report on Friday, February 13th. Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $205.00 target price (down from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $203.35.

Waste Connections Stock Performance

NYSE WCN opened at $156.70 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $40.00 billion, a P/E ratio of 38.22, a P/E/G ratio of 2.75 and a beta of 0.55. Waste Connections, Inc. has a 12-month low of $148.84 and a 12-month high of $198.00. The firm has a 50-day moving average price of $161.56 and a two-hundred day moving average price of $167.28.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. Analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections's payout ratio is currently 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 shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president owned 13,350 shares of the company's stock, valued at $2,200,347. The trade was a 31.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the transaction, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 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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