Principal Financial Group Inc. Trims Stock Position in Waste Connections, Inc. $WCN

Principal Financial Group Inc. lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,808,741 shares of the business services provider's stock after selling 123,945 shares during the quarter. Principal Financial Group Inc. owned about 0.71% of Waste Connections worth $317,190,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. City Holding Co. purchased a new position in shares of Waste Connections during the fourth quarter worth approximately $26,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Waste Connections during the third quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Waste Connections during the third quarter worth approximately $30,000. Greykasell Wealth Strategies Inc. grew its position in shares of Waste Connections by 555.2% during the third 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 last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Waste Connections during the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Insider Activity

In other Waste Connections news, VP James Little sold 2,605 shares of the company's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares in the company, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric Hansen sold 6,000 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the transaction, the senior vice president owned 13,350 shares in the company, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WCN. Canadian Imperial Bank of Commerce set a $208.00 target price on shares of Waste Connections in a research report on Thursday, January 8th. Scotiabank set a $197.00 price target on Waste Connections and gave the stock a "sector outperform" rating in a report on Friday, February 13th. Royal Bank Of Canada reissued an "outperform" rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Wolfe Research initiated coverage on Waste Connections in a report on Friday, March 13th. They set an "outperform" rating and a $199.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $212.00 price objective on shares of Waste Connections in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Waste Connections has an average rating of "Buy" and an average price target of $203.35.

Waste Connections Price Performance

Shares of NYSE WCN opened at $157.64 on Wednesday. The firm has a market capitalization of $40.24 billion, a P/E ratio of 38.45, a PEG ratio of 2.85 and a beta of 0.55. Waste Connections, Inc. has a one year low of $154.90 and a one year high of $199.00. The company's fifty day moving average is $164.10 and its two-hundred day moving average is $168.44. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 EPS. Analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Announces Dividend

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

About Waste Connections

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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