Insider Selling: Waste Connections (NYSE:WCN) VP Sells 7,500 Shares of Stock

Key Points

• Waste Connections VP Patrick James Shea sold 7,500 shares on June 5 at an average price of $156.26, totaling about $1.17 million. After the sale, he still held 19,737 shares, a 27.54% reduction in his position.
• Shares of WCN rose 2.6% in Tuesday trading to $157.63, near their 50-day average but below the 200-day average. The stock has traded between $146.89 and $192.72 over the past year.
• Waste Connections recently reported Q1 earnings of $1.23 per share, beating estimates, while revenue came in below expectations at $2.33 billion. The company also pays a quarterly dividend of $0.35 per share, or $1.40 annually, for a yield of about 0.9%.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction 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. This represents a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Waste Connections Trading Up 2.6%

Shares of NYSE:WCN traded up $3.92 during mid-day trading on Tuesday, hitting $157.63. The company had a trading volume of 1,526,850 shares, compared to its average volume of 1,657,904. The firm has a fifty day moving average price of $157.98 and a 200 day moving average price of $165.58. The company has a market capitalization of $39.99 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $192.72.

Waste Connections (NYSE:WCN - Get Free Report) last released 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. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. Waste Connections's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, research analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings lowered shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Scotiabank set a $197.00 price objective on shares of Waste Connections and gave the stock a "sector outperform" rating in a report on Friday, February 13th. Wolfe Research began coverage on shares of Waste Connections in a report on Friday, March 13th. They set an "outperform" rating and a $199.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Waste Connections currently has an average rating of "Moderate Buy" and an average price target of $202.84.

Hedge Funds Weigh In On Waste Connections

A number of hedge funds have recently bought and sold shares of WCN. Norges Bank purchased a new position in shares of Waste Connections in the 4th quarter worth about $697,519,000. Capital International Investors boosted its holdings in shares of Waste Connections by 28.2% in the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after buying an additional 1,420,921 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Waste Connections by 37.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock worth $835,370,000 after buying an additional 1,289,042 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Waste Connections by 39.6% in 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 buying an additional 1,264,150 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Waste Connections by 48.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider's stock worth $604,573,000 after buying an additional 1,219,056 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

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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