Waste Connections, Inc. $WCN Position Trimmed by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management trimmed its Waste Connections stake by 6.9% in the fourth quarter, selling 33,602 shares and leaving it with 452,932 shares valued at about $79.5 million.
• Waste Connections reported Q1 earnings of $1.23 per share, topping analyst expectations by $0.04, while revenue rose 6.4% year over year to $2.33 billion but came in below estimates.
• Analysts remain generally bullish on WCN, with a Moderate Buy consensus and an average price target of $202.84, even as recent insider sales and a slight dividend yield of 0.9% drew attention.

Allianz Asset Management GmbH decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 452,932 shares of the business services provider's stock after selling 33,602 shares during the period. Allianz Asset Management GmbH owned about 0.18% of Waste Connections worth $79,539,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WCN. Ritholtz Wealth Management grew its position 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 acquiring an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC grew its position 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 acquiring an additional 64 shares during the last quarter. WPG Advisers LLC grew its position 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 acquiring an additional 66 shares during the last quarter. RDA Financial Network grew its position 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 acquiring an additional 67 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its position 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 acquiring an additional 70 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Price Performance

Shares of NYSE WCN opened at $159.25 on Thursday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $192.72. 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 company has a market capitalization of $40.40 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 2.80 and a beta of 0.51. The firm has a 50-day moving average of $157.96 and a two-hundred day moving average of $165.36.

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 for the quarter, beating analysts' consensus estimates of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.13 EPS. Waste Connections's revenue was up 6.4% on a year-over-year basis. As a group, analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm 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 of this dividend was Wednesday, May 6th. Waste Connections's dividend payout ratio is presently 34.15%.

Insider Buying and Selling

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the sale, the chief operating officer directly owned 32,861 shares of the company's stock, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company's stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,605 shares of company stock worth $2,822,923 in the last ninety days. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WCN shares. JPMorgan Chase & Co. upped their price target on shares of Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. BMO Capital Markets restated an "outperform" rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Scotiabank set a $197.00 price target on shares of Waste Connections and gave the stock a "sector outperform" rating in a research report on Friday, February 13th. Weiss Ratings lowered shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Finally, TD Cowen lowered their price target on shares of Waste Connections from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.84.

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.

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN - Free Report).

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.