Waste Connections, Inc. $WCN Stock Holdings Lifted by Delta Global Management LP

Key Points

• Delta Global Management LP boosted its Waste Connections stake by 94.6% in the first quarter, adding 6,815 shares to reach 14,020 shares valued at about $2.28 million.
• Waste Connections reported strong quarterly results, with EPS of $1.50 beating estimates and revenue of $2.56 billion topping expectations; revenue also rose 6.4% year over year.
• The company announced a quarterly dividend of $0.35 per share, while analysts remain generally bullish with a consensus rating of “Moderate Buy” and an average price target of $202.05.

Delta Global Management LP increased its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 94.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,020 shares of the business services provider's stock after buying an additional 6,815 shares during the period. Delta Global Management LP's holdings in Waste Connections were worth $2,277,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Waste Connections in the fourth quarter worth about $697,519,000. Capital International Investors grew its holdings in shares of Waste Connections by 28.2% during the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock valued at $1,134,781,000 after purchasing an additional 1,420,921 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock worth $835,370,000 after purchasing an additional 1,289,042 shares during the period. Wellington Management Group LLP raised its position in shares of Waste Connections by 39.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider's stock worth $783,218,000 after purchasing an additional 1,264,150 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Waste Connections by 58.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider's stock worth $508,600,000 after purchasing an additional 1,065,653 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Up 0.9%

WCN stock opened at $169.52 on Friday. The firm's 50-day moving average is $161.36 and its two-hundred day moving average is $163.28. The company has a market capitalization of $42.78 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.49. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $191.91. The company has a current ratio of 0.66, a quick ratio of 0.69 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the firm posted $1.29 earnings per share. The business's revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Waste Connections, Inc. will post 5.6 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio is 33.73%.

Insider Activity

In other news, VP Patrick James Shea sold 7,500 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president owned 19,737 shares of the company's stock, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric Hansen sold 6,000 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders sold a total of 17,605 shares of company stock worth $2,822,923 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WCN shares. Barclays set a $180.00 price objective on Waste Connections and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. cut their target price on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. TD Cowen reissued a "buy" rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a report on Friday. BMO Capital Markets restated an "outperform" rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.05.

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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