Waste Connections, Inc. $WCN Shares Acquired by Amundi

Key Points

• Amundi increased its Waste Connections stake by 24.9% in the first quarter, owning 748,702 shares worth approximately $121.6 million. Institutional investors collectively hold 86.09% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $202.42; TD Cowen raised its target to $210.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS and $2.56 billion in revenue, while announcing a quarterly dividend of $0.35 per share, or an annualized yield of about 0.8%.

Amundi raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 748,702 shares of the business services provider's stock after acquiring an additional 149,116 shares during the quarter. Amundi owned approximately 0.29% of Waste Connections worth $121,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Kestra Private Wealth Services LLC grew its holdings 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 last quarter. Ritholtz Wealth Management increased its stake in Waste Connections by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock valued at $533,000 after purchasing an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Waste Connections by 1.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider's stock worth $701,000 after purchasing an additional 65 shares during the period. WPG Advisers LLC raised its holdings in shares of Waste Connections by 7.7% during the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock valued at $161,000 after buying an additional 66 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Waste Connections by 12.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider's stock valued at $106,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on WCN. Weiss Ratings cut shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. TD Cowen reiterated a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Barclays upped their price objective on Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. Finally, Citigroup boosted their target price on shares of Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.42.

Insider Buying and Selling

In related news, VP Patrick James Shea sold 7,500 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares in the company, valued at $3,084,103.62. The trade was a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of Waste Connections stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the acquisition, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This represents a 19.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 11,811 shares of company stock valued at $1,887,572. 0.27% of the stock is currently owned by corporate insiders.

Waste Connections Price Performance

NYSE:WCN opened at $167.54 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.00. The company has a fifty day moving average price of $162.57 and a 200 day moving average price of $163.25. The stock has a market cap of $42.28 billion, a P/E ratio of 40.37, a PEG ratio of 2.85 and a beta of 0.49.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the business posted $1.29 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. Analysts anticipate that Waste Connections, Inc. will post 5.63 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio is currently 33.73%.

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.

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