Sivia Capital Partners LLC Makes New $1.33 Million Investment in Waste Connections, Inc. $WCN

Key Points

• Sivia Capital Partners opened a new position in Waste Connections, buying 7,562 shares worth about $1.33 million in the fourth quarter.
• Wall Street remains broadly positive on the stock, with multiple firms reiterating buy/outperform ratings and an average analyst price target of $203.35.
• Insider activity was mixed: VP James Little sold shares, while CEO Ronald J. Mittelstaedt bought 50,000 shares valued at about $7.6 million.

Sivia Capital Partners LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,562 shares of the business services provider's stock, valued at approximately $1,326,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ritholtz Wealth Management lifted its stake in shares of Waste Connections by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock worth $533,000 after buying an additional 64 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Waste Connections by 2.6% during 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 period. WPG Advisers LLC lifted its stake in shares of 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 buying an additional 66 shares during the period. RDA Financial Network lifted its stake in shares of 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 buying an additional 67 shares during the period. Finally, Integrated Advisors Network LLC lifted its stake in shares of Waste Connections by 4.3% during the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider's stock worth $296,000 after buying an additional 70 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the subject of several research reports. BMO Capital Markets reiterated an "outperform" rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a research note on Thursday, April 23rd. Morgan Stanley set a $205.00 price objective on shares of Waste Connections and gave the stock an "overweight" rating in a research note on Friday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of Waste Connections from $195.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $203.35.

Insiders Place Their Bets

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 completion of the transaction, the vice president owned 34,395 shares in the company, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the transaction, the chief executive officer owned 301,017 shares of the company's stock, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.27% of the company's stock.

Waste Connections Trading Up 1.2%

NYSE WCN opened at $150.87 on Thursday. The company has a market capitalization of $38.28 billion, a PE ratio of 36.80, a P/E/G ratio of 2.65 and a beta of 0.51. The company has a fifty day moving average of $158.15 and a 200 day moving average of $165.91. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $193.62. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results 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 net margin of 10.97% and a return on equity of 16.49%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Research analysts forecast that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

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

Waste Connections Company 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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