Westerkirk Capital Inc. Sells 10,100 Shares of Waste Connections, Inc. $WCN

Key Points

• Westerkirk Capital sharply reduced its stake in Waste Connections, selling 10,100 shares in the fourth quarter and cutting its position by 93.4% to just 710 shares.
• Waste Connections reported better-than-expected earnings of $1.23 per share for the quarter, though revenue of $2.33 billion came in below analyst estimates. The company also said revenue rose 6.4% year over year.
• Analysts remain generally positive on WCN, with a Moderate Buy consensus and an average price target of $202.84, despite recent insider selling and the stock trading around $157.63.

Westerkirk Capital Inc. trimmed its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 93.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 710 shares of the business services provider's stock after selling 10,100 shares during the period. Westerkirk Capital Inc.'s holdings in Waste Connections were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WCN. Ritholtz Wealth Management increased its holdings in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock worth $533,000 after acquiring an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock worth $449,000 after acquiring an additional 64 shares during the last quarter. WPG Advisers LLC increased its holdings in Waste Connections by 7.7% in the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock worth $161,000 after acquiring an additional 66 shares during the last quarter. RDA Financial Network increased its holdings in Waste Connections by 2.8% in the 4th quarter. RDA Financial Network now owns 2,459 shares of the business services provider's stock worth $431,000 after acquiring an additional 67 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its holdings in Waste Connections by 4.3% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider's stock worth $296,000 after acquiring an additional 70 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

Shares of WCN stock opened at $157.63 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $192.72. The stock has a 50 day moving average price of $158.01 and a two-hundred day moving average price of $165.46. The company has a market capitalization of $39.99 billion, a P/E ratio of 38.45, a PEG ratio of 2.73 and a beta of 0.51.

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 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 firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The business's revenue was up 6.4% on a year-over-year basis. Analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were given a $0.35 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections's payout ratio is presently 34.15%.

Insider Transactions at Waste Connections

In other Waste Connections news, VP James Little sold 2,605 shares of the business's 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the sale, the vice president owned 19,737 shares of the company's stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 17,605 shares of company stock valued at $2,822,923. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WCN. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the stock an "overweight" rating in a report on Friday, February 13th. The Goldman Sachs Group reissued a "buy" rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Barclays set a $180.00 target price on Waste Connections and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Finally, TD Cowen reduced their target price on Waste Connections from $210.00 to $200.00 and set a "buy" rating for the company in a report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.84.

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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