Wealthfront Advisers LLC Sells 6,696 Shares of Waste Connections, Inc. $WCN

Key Points

• Wealthfront Advisers LLC trimmed its stake in Waste Connections by 24.7%, selling 6,696 shares and holding 20,391 shares worth $3.576 million at quarter-end.
• VP James Little sold 2,605 shares at an average price of $163.98 on April 27, reducing his position by 7.04% to 34,395 shares (≈$5.64 million).
• Waste Connections reported EPS of $1.23 (above the $1.19 estimate) but revenue of $2.33B (below the $2.50B estimate), announced a $0.35 quarterly dividend (annual $1.40, 0.9% yield), and holds a consensus "Buy" rating with an average price target of $203.35.

Wealthfront Advisers LLC decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,391 shares of the business services provider's stock after selling 6,696 shares during the quarter. Wealthfront Advisers LLC's holdings in Waste Connections were worth $3,576,000 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. bought a new stake in Waste Connections during the 4th quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Waste Connections in the 3rd quarter valued at approximately $30,000. Greykasell Wealth Strategies Inc. raised its holdings in Waste Connections by 555.2% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider's stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in Waste Connections by 121.9% in the 4th quarter. Valley National Advisers Inc. now owns 304 shares of the business services provider's stock valued at $52,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Insider Activity

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

Waste Connections Trading Down 2.1%

Shares of WCN opened at $161.26 on Friday. Waste Connections, Inc. has a 1 year low of $154.90 and a 1 year high of $199.00. 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 stock has a 50 day simple moving average of $164.21 and a 200-day simple moving average of $168.58. The stock has a market cap of $41.16 billion, a PE ratio of 39.33, a PEG ratio of 2.92 and a beta of 0.55.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the firm posted $1.13 EPS. Waste Connections's quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $212.00 price target on Waste Connections in a report on Friday, February 13th. Canadian Imperial Bank of Commerce set a $208.00 price target on Waste Connections in a report on Thursday, January 8th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $211.00 price target on shares of Waste Connections in a report on Thursday, April 23rd. Wolfe Research assumed coverage on Waste Connections in a report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price target for the company. Finally, Scotiabank set a $197.00 price target on Waste Connections and gave the company a "sector outperform" rating in a report on Friday, February 13th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $203.35.

About Waste Connections

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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