Sumitomo Mitsui Trust Group Inc. Sells 15,979 Shares of Waste Connections, Inc. $WCN

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Waste Connections by 4.9%, selling 15,979 shares and leaving it with 311,161 shares (about 0.12%) worth roughly $54.6 million.
• Waste Connections beat Q4 EPS expectations with $1.29 (vs. $1.28 est.) while reporting revenue of $2.35 billion, slightly below estimates but up about 5% year‑over‑year; net margin was 11.37% and ROE 16.25%.
• The company pays a quarterly dividend of $0.35 (annualized $1.40, yield ~0.9%, payout ratio ~33.6%), and analysts have a consensus Buy rating with a target price of about $202.81.

Sumitomo Mitsui Trust Group Inc. lowered its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,161 shares of the business services provider's stock after selling 15,979 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of Waste Connections worth $54,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. City Holding Co. bought a new stake in Waste Connections in the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC bought a new stake in Waste Connections in the third quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Waste Connections in the third quarter worth about $30,000. Greykasell Wealth Strategies Inc. lifted its stake in Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in Waste Connections in the second quarter worth about $49,000. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Waste Connections stock opened at $160.01 on Thursday. The company has a 50 day moving average price of $164.99 and a 200-day moving average price of $169.43. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. Waste Connections, Inc. has a fifty-two week low of $154.90 and a fifty-two week high of $199.78. The company has a market capitalization of $40.84 billion, a PE ratio of 38.37, a P/E/G ratio of 2.82 and a beta of 0.61.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th were paid 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 of this dividend was Wednesday, February 25th. Waste Connections's payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

WCN has been the subject of several analyst reports. 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. Wolfe Research initiated coverage on shares of Waste Connections in a research note on Friday, March 13th. They issued an "outperform" rating and a $199.00 price objective for the company. Stifel Nicolaus set a $213.00 price objective on shares of Waste Connections and gave the stock a "buy" rating in a research note on Friday, February 13th. Sanford C. Bernstein reissued an "outperform" rating and issued a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Finally, Oppenheimer reissued an "outperform" rating and issued a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $202.81.

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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