Sands Capital Management LLC Sells 217,314 Shares of Waste Connections, Inc. $WCN

Key Points

• Sands Capital Management cut its Waste Connections stake by 18.4% in Q4, selling 217,314 shares and leaving it with 965,880 shares valued at about $169.4 million.
• Other institutional investors remain heavily involved in WCN, with several large firms increasing their positions; overall, institutions own 86.09% of the company.
• Analyst sentiment is generally positive, with a consensus rating of Moderate Buy and an average price target of $202.84, while the stock recently traded at $155.88 after reporting EPS that beat estimates but revenue that missed expectations.

Sands Capital Management LLC decreased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 18.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 965,880 shares of the business services provider's stock after selling 217,314 shares during the quarter. Sands Capital Management LLC owned approximately 0.38% of Waste Connections worth $169,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WCN. Norges Bank bought a new position in shares of Waste Connections during the 4th quarter worth $697,519,000. Capital International Investors grew its stake in shares of Waste Connections by 28.2% during the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after acquiring an additional 1,420,921 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock worth $835,370,000 after acquiring an additional 1,289,042 shares during the period. Wellington Management Group LLP grew its stake in shares of Waste Connections by 39.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider's stock worth $783,218,000 after acquiring an additional 1,264,150 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Waste Connections by 58.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider's stock worth $508,600,000 after acquiring an additional 1,065,653 shares during the period. Institutional investors own 86.09% of the company's stock.

Wall Street Analyst Weigh In

WCN has been the subject of several analyst reports. Barclays set a $180.00 target price on Waste Connections and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Royal Bank Of Canada restated an "outperform" rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Finally, Wolfe Research initiated coverage on Waste Connections in a research note on Friday, March 13th. They issued an "outperform" rating and a $199.00 target price for the company. Three 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.84.

Waste Connections Stock Down 0.1%

Shares of NYSE WCN opened at $155.88 on Monday. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $192.72. The business has a 50-day simple moving average of $157.68 and a two-hundred day simple moving average of $165.10. 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 cap of $39.55 billion, a P/E ratio of 38.02, a P/E/G ratio of 2.77 and a beta of 0.51.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the firm posted $1.13 EPS. The company's revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

Insider Transactions at Waste Connections

In other Waste Connections news, VP James Little sold 2,605 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the sale, the vice president owned 34,395 shares of the company's stock, valued at $5,640,092.10. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the acquisition, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This represents a 19.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is owned by insiders.

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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