Nicholas Company Inc. Boosts Holdings in Waste Connections, Inc. $WCN

Key Points

• Nicholas Company Inc. increased its Waste Connections stake by 32.4% in the fourth quarter, adding 109,950 shares to bring its total to 449,112 shares worth about $78.8 million.
• Several other institutional investors also boosted their holdings, and hedge funds and other institutions now own 86.09% of Waste Connections’ shares.
• Two company insiders sold stock recently: VP James Little and SVP Eric Hansen both reduced their positions, while Waste Connections also reported solid quarterly results with EPS beating estimates and a quarterly dividend of $0.35 per share.

Nicholas Company Inc. lifted its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,112 shares of the business services provider's stock after purchasing an additional 109,950 shares during the quarter. Waste Connections accounts for approximately 1.4% of Nicholas Company Inc.'s holdings, making the stock its 15th biggest position. Nicholas Company Inc. owned approximately 0.18% of Waste Connections worth $78,756,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WCN. Pure Financial Advisors LLC purchased a new position in Waste Connections in the 4th quarter worth about $302,000. Dogwood Wealth Management LLC raised its position in Waste Connections by 5.3% in the 4th quarter. Dogwood Wealth Management LLC now owns 1,475 shares of the business services provider's stock worth $259,000 after buying an additional 74 shares during the last quarter. NewEdge Wealth LLC raised its position in Waste Connections by 48.2% in the 4th quarter. NewEdge Wealth LLC now owns 4,084 shares of the business services provider's stock worth $716,000 after buying an additional 1,328 shares during the last quarter. Ethic Inc. raised its position in Waste Connections by 4.2% in the 4th quarter. Ethic Inc. now owns 4,516 shares of the business services provider's stock worth $792,000 after buying an additional 183 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in Waste Connections by 13.8% in the 4th quarter. Ballentine Partners LLC now owns 1,563 shares of the business services provider's stock worth $274,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Insider Activity at Waste Connections

In other Waste Connections news, VP James Little sold 2,605 shares of the company'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 value of $427,167.90. Following the completion of the transaction, the vice president directly owned 34,395 shares in the company, valued at $5,640,092.10. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eric Hansen sold 6,000 shares of the company's 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 completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.27% of the company's stock.

Waste Connections Trading Up 0.0%

Shares of NYSE:WCN opened at $151.85 on Monday. The stock has a 50 day moving average of $163.67 and a 200 day moving average of $168.18. The company has a market cap of $38.76 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 12-month low of $151.61 and a 12-month high of $198.00.

Waste Connections (NYSE:WCN - Get Free Report) last announced 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 company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. As a group, equities research analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

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

Analyst Ratings Changes

WCN has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $213.00 target price on Waste Connections and gave the stock a "buy" rating in a research report on Friday, February 13th. Wolfe Research initiated coverage on Waste Connections in a research report on Friday, March 13th. They issued an "outperform" rating and a $199.00 target price for the company. Morgan Stanley set a $205.00 target price on Waste Connections and gave the stock an "overweight" rating in a research report on Friday, February 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, TD Cowen decreased their target price on Waste Connections from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus 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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