Waste Connections, Inc. $WCN Shares Sold by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd reduced its position by 36% in Waste Connections in Q4, selling 119,648 shares and finishing the quarter with 213,073 shares worth about $37.96 million (≈2.2% of the fund's portfolio).
• Waste Connections beat EPS estimates for the quarter ($1.23 vs. $1.19) but missed revenue expectations ($2.33B vs. $2.50B), and announced a quarterly dividend of $0.35 ($1.40 annual, ~0.9% yield).
• Insider sales were reported (SVP Eric Hansen sold 6,000 shares; VP James Little sold 2,605), institutional ownership stands at ~86%, and analysts hold a consensus "Buy" with an average target of $203.35.

Premier Fund Managers Ltd reduced its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 36.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,073 shares of the business services provider's stock after selling 119,648 shares during the quarter. Waste Connections comprises approximately 2.2% of Premier Fund Managers Ltd's investment portfolio, making the stock its 7th largest position. Premier Fund Managers Ltd owned about 0.08% of Waste Connections worth $37,960,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. acquired a new position in Waste Connections in the 4th quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Waste Connections in the 3rd quarter worth $30,000. Greykasell Wealth Strategies Inc. increased its stake in shares of Waste Connections by 555.2% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock worth $33,000 after acquiring an additional 161 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Waste Connections in the 4th quarter worth $52,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of WCN opened at $153.59 on Thursday. The stock has a 50-day simple moving average of $163.91 and a 200-day simple moving average of $168.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $39.20 billion, a PE ratio of 37.46, a PEG ratio of 2.80 and a beta of 0.55. Waste Connections, Inc. has a 1 year low of $153.31 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, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the business posted $1.13 EPS. The business's quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 6th. Waste Connections's dividend payout ratio (DPR) is 34.15%.

Insider Activity

In other news, SVP Eric Hansen sold 6,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the sale, the senior vice president owned 13,350 shares of the company's stock, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Little sold 2,605 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the sale, the vice president directly owned 34,395 shares in the company, valued at $5,640,092.10. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a "neutral" rating and set a $183.00 price target (down from $196.00) on shares of Waste Connections in a report on Friday, January 16th. Oppenheimer reiterated an "outperform" rating and set a $205.00 price target (down from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. The Goldman Sachs Group reiterated a "buy" rating and set a $211.00 price target on shares of Waste Connections in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft set a $212.00 price target on Waste Connections in a report on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce set a $208.00 price target on Waste Connections in a report on Thursday, January 8th. Four equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price 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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