Waste Connections, Inc. $WCN Shares Acquired by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management increased its stake in Waste Connections by 16.2% in Q4 to 60,140 shares, valued at about $10.55 million, and institutional investors now own roughly 86.09% of the stock.
• Analyst sentiment is positive with an average rating of Buy and a consensus price target of about $203.35, with several firms setting targets in the $205–$212 range.
• Waste Connections beat EPS expectations (quarterly EPS $1.23 vs. $1.19 est.) but missed on revenue ($2.33B vs. $2.50B est.), and announced a quarterly dividend of $0.35 (annualized $1.40, ~0.9% yield) with an ex-dividend date of May 6.

Oppenheimer Asset Management Inc. boosted its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 16.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,140 shares of the business services provider's stock after buying an additional 8,363 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Waste Connections were worth $10,546,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Ritholtz Wealth Management boosted its position in shares of Waste Connections by 2.1% during the 4th 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 in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Waste Connections by 2.6% in 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 period. WPG Advisers LLC boosted its holdings in shares of Waste Connections by 7.7% in the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock worth $161,000 after buying an additional 66 shares during the period. RDA Financial Network boosted its holdings in shares of Waste Connections by 2.8% in the fourth quarter. RDA Financial Network now owns 2,459 shares of the business services provider's stock worth $431,000 after buying an additional 67 shares during the period. Finally, Integrated Advisors Network LLC lifted its position in shares of Waste Connections by 4.3% in the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider's stock worth $296,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WCN shares. Sanford C. Bernstein reissued an "outperform" rating and issued a $205.00 price target (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. UBS Group set a $205.00 price target on shares of Waste Connections in a research report on Monday, January 5th. TD Cowen reduced 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. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a report on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce set a $208.00 price objective on Waste Connections in a report on Thursday, January 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Waste Connections currently has an average rating of "Buy" and a consensus price target of $203.35.

Insider Buying and Selling

In related news, VP James Little sold 2,605 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the completion of the transaction, the vice president directly owned 34,395 shares of the company's stock, valued at $5,640,092.10. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Waste Connections Trading Down 2.1%

Shares of Waste Connections stock opened at $161.26 on Friday. The company's fifty day simple moving average is $164.21 and its 200-day simple moving average is $168.58. The company has a market cap of $41.16 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 2.92 and a beta of 0.55. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 1 year low of $154.90 and a 1 year high of $199.00.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The business 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections's dividend payout ratio (DPR) 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.

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