SG Americas Securities LLC Raises Stock Position in Waste Connections, Inc. $WCN

Key Points

• SG Americas Securities LLC increased its stake in Waste Connections by 19.1% in the first quarter, owning 277,968 shares worth about $45.2 million after buying 44,491 additional shares.
• Analysts remain generally positive on WCN, with an average rating of Moderate Buy and an average price target of $202.84. Several firms recently reaffirmed or raised targets, including JPMorgan to $210 and Goldman Sachs to $211.
• Waste Connections reported Q1 EPS of $1.23, topping estimates, while revenue came in at $2.33 billion, below forecasts but still up 6.4% year over year. The company also paid a quarterly dividend of $0.35 per share, yielding about 0.9% annually.

SG Americas Securities LLC boosted its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 19.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 277,968 shares of the business services provider's stock after purchasing an additional 44,491 shares during the period. SG Americas Securities LLC owned about 0.11% of Waste Connections worth $45,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WCN. Ritholtz Wealth Management raised its stake in shares of Waste Connections by 2.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock valued at $533,000 after buying an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Waste Connections by 2.6% in the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock worth $449,000 after buying an additional 64 shares during the last quarter. WPG Advisers LLC grew its holdings in Waste Connections by 7.7% during the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock worth $161,000 after acquiring an additional 66 shares during the period. RDA Financial Network grew its holdings in Waste Connections by 2.8% during the fourth quarter. RDA Financial Network now owns 2,459 shares of the business services provider's stock worth $431,000 after acquiring an additional 67 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in Waste Connections by 12.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider's stock valued at $106,000 after acquiring an additional 67 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Waste Connections

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the transaction, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the sale, the senior vice president directly owned 13,350 shares in the company, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,605 shares of company stock worth $2,822,923 in the last quarter. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Waste Connections from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a research note on Thursday, April 23rd. Wolfe Research began coverage on shares of Waste Connections in a report on Friday, March 13th. They set an "outperform" rating and a $199.00 target price for the company. BMO Capital Markets reiterated an "outperform" rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Three 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $202.84.

Waste Connections Trading Down 0.3%

WCN stock opened at $153.45 on Tuesday. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $191.91. The business's 50-day moving average is $156.48 and its 200 day moving average is $164.21. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock has a market cap of $38.93 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 2.73 and a beta of 0.51.

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

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 6th. Waste Connections's payout ratio is presently 34.15%.

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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