Waste Connections, Inc. $WCN Shares Sold by Intact Investment Management Inc.

Key Points

• Intact Investment Management cut its stake in Waste Connections by 66.9% in Q4, selling 79,460 shares and leaving it with 39,357 shares valued at about $6.90 million.
• Analyst sentiment is broadly positive: Waste Connections has an average MarketBeat rating of "Buy" with an average target price of $203.35 (multiple brokers have recent "outperform"/buy ratings).
• Recent results showed $1.23 EPS (beating estimates by $0.04) but $2.33B revenue (below expectations); the company also declared a quarterly dividend of $0.35 (annualized yield ~0.9%).

Intact Investment Management Inc. reduced its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 66.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,357 shares of the business services provider's stock after selling 79,460 shares during the quarter. Intact Investment Management Inc.'s holdings in Waste Connections were worth $6,902,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. lifted its position in Waste Connections by 28.9% in the 4th quarter. Benjamin Edwards Inc. now owns 9,685 shares of the business services provider's stock valued at $1,701,000 after purchasing an additional 2,173 shares during the last quarter. Fifth Third Bancorp lifted its position in Waste Connections by 109.0% in the 4th quarter. Fifth Third Bancorp now owns 395 shares of the business services provider's stock valued at $69,000 after purchasing an additional 206 shares during the last quarter. Danske Bank A S lifted its position in Waste Connections by 9.2% in the 4th quarter. Danske Bank A S now owns 204,483 shares of the business services provider's stock valued at $35,858,000 after purchasing an additional 17,247 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Waste Connections by 16.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 60,140 shares of the business services provider's stock valued at $10,546,000 after purchasing an additional 8,363 shares during the last quarter. Finally, Citizens Financial Group Inc. RI bought a new stake in Waste Connections in the 4th quarter valued at about $263,000. 86.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WCN. BMO Capital Markets reiterated an "outperform" rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Oppenheimer reiterated an "outperform" rating and issued a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. Wolfe Research began coverage on shares of Waste Connections in a research report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price objective on the stock. Weiss Ratings upgraded shares of Waste Connections from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, TD Cowen lowered their target price on shares of Waste Connections from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Waste Connections currently has an average rating of "Buy" and an average target price of $203.35.

Waste Connections Stock Up 0.0%

Waste Connections stock opened at $161.26 on Monday. The stock has a market cap of $41.16 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 2.86 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. The company's 50-day moving average price is $164.21 and its two-hundred day moving average price is $168.53. Waste Connections, Inc. has a 52 week low of $154.90 and a 52 week high of $199.00.

Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The firm had revenue of $2.33 billion for the quarter, compared to analysts' expectations 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 earned $1.13 EPS. On average, analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders 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 yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is presently 34.15%.

Insider Buying and Selling

In other news, VP James Little sold 2,605 shares of Waste Connections stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the transaction, the vice president owned 34,395 shares of the company's stock, valued at $5,640,092.10. The trade was a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.27% of the company's stock.

Waste Connections Company 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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