Waste Connections, Inc. $WCN Shares Purchased by Capital International Inc. CA

Key Points

• Capital International Inc. CA boosted its Waste Connections stake by 32.3% in the fourth quarter, adding 39,351 shares and bringing its total holdings to 161,247 shares worth about $28.3 million.
• Waste Connections reported strong quarterly earnings, with EPS of $1.23 topping estimates, while revenue of $2.33 billion came in below expectations. Revenue still rose 6.4% year over year.
• The company also saw mixed insider activity: CEO Ronald J. Mittelstaedt bought 50,000 shares, while SVP Eric Hansen sold 6,000 shares. Analysts remain broadly positive, with an average Buy rating and a consensus price target of $203.35.

Capital International Inc. CA increased its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 32.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,247 shares of the business services provider's stock after acquiring an additional 39,351 shares during the quarter. Capital International Inc. CA owned about 0.06% of Waste Connections worth $28,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WCN. Vanguard Group Inc. lifted its holdings in shares of Waste Connections by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider's stock valued at $5,552,682,000 after purchasing an additional 717,440 shares during the last quarter. Capital International Investors grew its position in Waste Connections by 28.2% during the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after purchasing an additional 1,420,921 shares during the last quarter. Mackenzie Financial Corp grew its position in Waste Connections by 17.6% during the 3rd quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider's stock worth $1,078,536,000 after purchasing an additional 918,245 shares during the last quarter. Wellington Management Group LLP increased its position in Waste Connections by 39.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider's stock valued at $783,218,000 after acquiring an additional 1,264,150 shares during the period. Finally, Norges Bank acquired a new position in Waste Connections in the 4th quarter valued at about $697,519,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

WCN stock opened at $155.29 on Monday. The company has a market cap of $39.40 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.76 and a beta of 0.51. 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 firm has a 50 day moving average of $158.05 and a 200-day moving average of $165.71. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $193.08.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. As a group, equities analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections's dividend payout ratio is 34.15%.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was 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 of the company's stock, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eric Hansen sold 6,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the transaction, the senior vice president owned 13,350 shares of the company's stock, valued at $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wolfe Research initiated coverage on Waste Connections in a research report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price target on the stock. Scotiabank set a $197.00 price target on Waste Connections and gave the stock a "sector outperform" rating in a research note on Friday, February 13th. Barclays set a $180.00 price target on Waste Connections and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Weiss Ratings cut shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Waste Connections presently has an average rating of "Buy" and a consensus price target of $203.35.

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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