James Little Sells 2,605 Shares of Waste Connections (NYSE:WCN) Stock

Key Points

• Insider sale: Waste Connections VP James Little sold 2,605 shares on April 27 at an average price of $163.98, cutting his position by 7.04% to 34,395 shares valued at about $5.64 million.
• Quarterly results and dividend: Q1 EPS was $1.23 (beat by $0.04) while revenue missed at $2.33 billion, and the company declared a $0.35 quarterly dividend ($1.40 annualized, 0.9% yield; ex-dividend May 6, payable May 21).
• Market/analyst view: WCN has a ~$41.8 billion market cap and a P/E near 39.9, with an average analyst rating of "Buy" and a consensus price target of $203.35.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) VP James Little sold 2,605 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were 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 owned 34,395 shares of the company's stock, valued at $5,640,092.10. The trade was a 7.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Waste Connections Stock Up 0.1%

Shares of NYSE WCN traded up $0.09 during mid-day trading on Wednesday, hitting $163.63. The company had a trading volume of 1,403,810 shares, compared to its average volume of 1,632,732. The company has a market capitalization of $41.76 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61. The firm has a 50-day simple moving average of $164.22 and a two-hundred day simple moving average of $168.64. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a one year low of $154.90 and a one 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 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 analysts' expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. On average, equities analysts expect that Waste Connections, Inc. will post 5.49 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed 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 is Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is presently 34.15%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WCN. CIBC Asset Management Inc grew its stake in Waste Connections by 55.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider's stock valued at $350,603,000 after buying an additional 711,990 shares during the last quarter. Cidel Asset Management Inc. grew its stake in Waste Connections by 19.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider's stock valued at $28,780,000 after buying an additional 26,684 shares during the last quarter. Procyon Advisors LLC acquired a new position in Waste Connections in the 4th quarter valued at about $1,908,000. Fisher Funds Management LTD grew its stake in Waste Connections by 51.2% in the 3rd quarter. Fisher Funds Management LTD now owns 88,336 shares of the business services provider's stock valued at $15,529,000 after buying an additional 29,925 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Waste Connections by 770.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 57,519 shares of the business services provider's stock valued at $10,112,000 after buying an additional 50,911 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the subject of several analyst reports. The Goldman Sachs Group restated a "buy" rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. BNP Paribas Exane assumed coverage on shares of Waste Connections in a research note on Tuesday, January 6th. They set an "outperform" rating on the stock. Sanford C. Bernstein restated an "outperform" rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Citigroup restated a "neutral" rating and set a $183.00 price objective (down from $196.00) on shares of Waste Connections in a research note on Friday, January 16th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Four equities 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 MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $203.35.

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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