Tredje AP fonden Buys Shares of 154,800 Waste Connections, Inc. $WCN

Key Points

• Tredje AP fonden bought a new stake in Waste Connections during the fourth quarter, acquiring 154,800 shares worth about $27.1 million.
• Waste Connections reported better-than-expected quarterly EPS of $1.23, though revenue came in below estimates at $2.33 billion despite 6.4% year-over-year growth.
• The company also announced a quarterly dividend of $0.35 per share, while analysts remain broadly positive with a “Buy” consensus and an average price target of $203.35.

Tredje AP fonden purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 154,800 shares of the business services provider's stock, valued at approximately $27,146,000. Tredje AP fonden owned about 0.06% of Waste Connections at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. City Holding Co. purchased a new stake in Waste Connections in the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections during the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Waste Connections during the third quarter worth about $30,000. Greykasell Wealth Strategies Inc. boosted its position in Waste Connections by 555.2% during 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 period. Finally, Entrust Financial LLC purchased a new position in shares of Waste Connections in the fourth quarter worth about $37,000. Institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on WCN. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on shares of Waste Connections in a report on Friday, February 13th. Stifel Nicolaus set a $213.00 target price on Waste Connections and gave the stock a "buy" rating in a research report on Friday, February 13th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an "overweight" rating in a report on Friday, February 13th. Barclays set a $180.00 target price on Waste Connections and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Four 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. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $203.35.

Insiders Place Their Bets

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 13,350 shares of the company's stock, valued at $2,200,347. The trade was a 31.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of Waste Connections stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the transaction, the chief executive officer directly owned 301,017 shares in the company, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.27% of the company's stock.

Waste Connections Price Performance

Shares of NYSE WCN opened at $159.01 on Tuesday. The stock's 50-day simple moving average is $161.33 and its two-hundred day simple moving average is $167.12. Waste Connections, Inc. has a twelve month low of $148.84 and a twelve month high of $198.00. The firm has a market capitalization of $40.58 billion, a P/E ratio of 38.78, a P/E/G ratio of 2.78 and a beta of 0.55. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN - Get Free Report) last issued 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. 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $1.13 EPS. The company's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. 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.

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.