Lombard Odier Asset Management Switzerland SA Purchases 6,000 Shares of Waste Connections, Inc. $WCN

Key Points

• Lombard Odier Asset Management Switzerland increased its Waste Connections stake by 30.7% in the first quarter, purchasing 6,000 additional shares and bringing its holdings to 25,525 shares valued at approximately $4.15 million. Institutional investors collectively own 86.09% of the company.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS versus the $1.35 consensus and revenue of $2.56 billion, up 6.4% year over year. The company also declared a quarterly dividend of $0.35 per share, implying a 0.8% yield.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $202.05, compared with its reported trading price of $169.52.

Lombard Odier Asset Management Switzerland SA increased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 30.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,525 shares of the business services provider's stock after acquiring an additional 6,000 shares during the quarter. Lombard Odier Asset Management Switzerland SA's holdings in Waste Connections were worth $4,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in shares of Waste Connections in the 1st quarter valued at about $577,000. Invesco Ltd. raised its stake in shares of Waste Connections by 12.8% during the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock worth $40,946,000 after buying an additional 24,948 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Waste Connections by 2.9% during the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock worth $4,572,000 after buying an additional 688 shares during the last quarter. Jump Financial LLC acquired a new position in Waste Connections in the second quarter valued at approximately $2,714,000. Finally, State Street Corp boosted its stake in Waste Connections by 1.0% in the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock valued at $337,708,000 after acquiring an additional 17,197 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Trading Down 0.1%

Shares of NYSE WCN opened at $169.52 on Monday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The stock has a market cap of $42.78 billion, a price-to-earnings ratio of 40.85, a P/E/G ratio of 2.91 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company's fifty day moving average is $161.36 and its 200-day moving average is $163.21.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.15. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. Equities research analysts predict that Waste Connections, Inc. will post 5.6 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio is 33.73%.

Insiders Place Their Bets

In related news, VP Patrick James Shea sold 7,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company's stock, valued at approximately $3,084,103.62. This represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Hansen sold 6,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the sale, the senior vice president directly owned 13,350 shares of the company's stock, valued at approximately $2,200,347. The trade was a 31.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 15,000 shares of company stock worth $2,395,755. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WCN has been the subject of several recent research reports. Barclays set a $180.00 target price on shares of Waste Connections and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Citigroup upped their price objective on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their target price on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $199.00 target price on shares of Waste Connections in a report on Friday. Finally, The Goldman Sachs Group restated a "buy" rating and set a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. Two 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.05.

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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