Waste Connections, Inc. $WCN Shares Purchased by Mirabaud Asset Management Ltd

Key Points

• Mirabaud Asset Management Ltd increased its stake in Waste Connections by 28.9% in the fourth quarter, buying 12,680 more shares and lifting its holdings to 56,620 shares worth about $10.75 million.
• Waste Connections reported better-than-expected quarterly EPS of $1.23 versus estimates of $1.19, though revenue of $2.33 billion came in below analyst expectations; revenue still rose 6.4% year over year.
• The company declared a quarterly dividend of $0.35 per share, payable May 21, while analysts remain broadly positive with an average Buy rating and average target price of $203.35.

Mirabaud Asset Management Ltd boosted its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 28.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,620 shares of the business services provider's stock after acquiring an additional 12,680 shares during the period. Waste Connections comprises approximately 5.0% of Mirabaud Asset Management Ltd's holdings, making the stock its 8th biggest holding. Mirabaud Asset Management Ltd's holdings in Waste Connections were worth $10,754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nicholas Company Inc. grew its stake in Waste Connections by 32.4% in the 4th quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider's stock worth $78,756,000 after acquiring an additional 109,950 shares during the period. Pure Financial Advisors LLC purchased a new stake in Waste Connections in the 4th quarter worth approximately $302,000. Dogwood Wealth Management LLC grew its stake in Waste Connections by 5.3% in the 4th quarter. Dogwood Wealth Management LLC now owns 1,475 shares of the business services provider's stock worth $259,000 after acquiring an additional 74 shares during the period. NewEdge Wealth LLC grew its stake in Waste Connections by 48.2% in the 4th quarter. NewEdge Wealth LLC now owns 4,084 shares of the business services provider's stock worth $716,000 after acquiring an additional 1,328 shares during the period. Finally, Ethic Inc. grew its stake in Waste Connections by 4.2% in the 4th quarter. Ethic Inc. now owns 4,516 shares of the business services provider's stock worth $792,000 after acquiring an additional 183 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.0%

Shares of NYSE WCN opened at $151.85 on Monday. Waste Connections, Inc. has a 52-week low of $151.61 and a 52-week high of $198.00. The firm has a fifty day moving average of $163.67 and a 200-day moving average of $168.18. The stock has a market capitalization of $38.76 billion, a PE ratio of 37.04, a P/E/G ratio of 2.70 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 announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $2.50 billion. During the same period in the previous year, the company earned $1.13 EPS. The business's quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

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 dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections's payout ratio is currently 34.15%.

Analyst Ratings Changes

Several analysts have commented on WCN shares. Oppenheimer reaffirmed an "outperform" rating and issued a $205.00 target price (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Stifel Nicolaus set a $213.00 target price on shares of Waste Connections and gave the stock a "buy" rating in a research note on Friday, February 13th. TD Cowen lowered their target price on shares of Waste Connections from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a research note on Friday, February 13th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $211.00 target price on shares of Waste Connections in a research note on Thursday, April 23rd. Four 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $203.35.

Insider Buying and Selling at Waste Connections

In related news, VP James Little sold 2,605 shares of Waste Connections stock in a transaction on Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president owned 34,395 shares in the company, valued at approximately $5,640,092.10. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction on 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 in the company, valued at $2,200,347. The trade was a 31.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by insiders.

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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