Tandem Investment Advisors Inc. Cuts Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Tandem Investment Advisors trimmed its Waste Connections stake by 4.4% in the fourth quarter, selling 16,552 shares and ending with 362,780 shares valued at about $63.6 million.
• Waste Connections reported Q1 earnings of $1.23 per share, topping expectations, though revenue of $2.33 billion came in below estimates; revenue still rose 6.4% year over year.
• Analysts remain bullish on the stock, with a consensus Buy rating and an average price target of $203.35, while the shares recently traded around $155.77.

Tandem Investment Advisors Inc. decreased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 362,780 shares of the business services provider's stock after selling 16,552 shares during the quarter. Waste Connections accounts for 2.4% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 22nd largest position. Tandem Investment Advisors Inc. owned about 0.14% of Waste Connections worth $63,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City Holding Co. purchased a new stake in Waste Connections in the fourth quarter worth approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections in the third quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Waste Connections in the third quarter worth approximately $30,000. Greykasell Wealth Strategies Inc. boosted its holdings 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, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Waste Connections in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Insider Buying and Selling at Waste Connections

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

Waste Connections Trading Up 0.0%

Shares of Waste Connections stock opened at $155.77 on Tuesday. The company's fifty day simple moving average is $160.14 and its 200-day simple moving average is $166.70. The stock has a market capitalization of $39.76 billion, a PE ratio of 37.99, a P/E/G ratio of 2.76 and a beta of 0.55. Waste Connections, Inc. has a 1-year low of $148.84 and a 1-year high of $198.00. 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 announced its quarterly 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 for 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%. Waste Connections's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

The business 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. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, May 6th. Waste Connections's payout ratio is currently 34.15%.

Analyst Ratings Changes

Several brokerages recently issued reports on WCN. Wolfe Research began coverage on shares of Waste Connections in a report on Friday, March 13th. They issued an "outperform" rating and a $199.00 target price on the stock. Scotiabank set a $197.00 target price on shares of Waste Connections and gave the stock a "sector outperform" rating in a report on Friday, February 13th. Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Royal Bank Of Canada reissued an "outperform" rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research report on Friday, February 13th. Four equities 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $203.35.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.