Guardian Capital LP Reduces Stake in Waste Connections, Inc. (NYSE:WCN)

Guardian Capital LP trimmed its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 53.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,403 shares of the business services provider's stock after selling 31,531 shares during the period. Guardian Capital LP's holdings in Waste Connections were worth $4,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WCN. Janney Montgomery Scott LLC increased its position in Waste Connections by 19.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,091 shares of the business services provider's stock valued at $4,044,000 after acquiring an additional 4,352 shares during the last quarter. Altman Advisors Inc. lifted its stake in Waste Connections by 0.9% in the fourth quarter. Altman Advisors Inc. now owns 10,572 shares of the business services provider's stock worth $1,578,000 after purchasing an additional 94 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Waste Connections by 3.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 117,557 shares of the business services provider's stock valued at $17,335,000 after buying an additional 3,673 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Waste Connections during the fourth quarter valued at approximately $211,000. Finally, Advisor OS LLC lifted its stake in shares of Waste Connections by 6.8% during the 4th quarter. Advisor OS LLC now owns 2,338 shares of the business services provider's stock worth $349,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Down 0.3 %

Shares of WCN stock traded down $0.43 during mid-day trading on Tuesday, hitting $165.66. 906,770 shares of the stock traded hands, compared to its average volume of 916,472. Waste Connections, Inc. has a 52-week low of $126.12 and a 52-week high of $173.02. The stock has a market cap of $42.74 billion, a P/E ratio of 53.79, a P/E/G ratio of 2.72 and a beta of 0.67. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75. The stock's fifty day moving average is $167.57 and its two-hundred day moving average is $154.51.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. Waste Connections's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. Equities analysts predict that Waste Connections, Inc. will post 4.81 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, May 7th. Waste Connections's dividend payout ratio is currently 37.01%.

Insider Buying and Selling at Waste Connections

In other news, SVP Robert Nielsen III sold 2,000 shares of the business's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the sale, the senior vice president now owns 6,321 shares in the company, valued at $1,049,286. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Andrea E. Bertone sold 902 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total value of $152,591.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $166.00, for a total value of $332,000.00. Following the sale, the senior vice president now directly owns 6,321 shares of the company's stock, valued at approximately $1,049,286. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,402 shares of company stock worth $735,976. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on WCN shares. Jefferies Financial Group upped their price objective on Waste Connections from $195.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, March 18th. StockNews.com cut shares of Waste Connections from a "buy" rating to a "hold" rating in a research report on Friday. Stifel Nicolaus raised their target price on shares of Waste Connections from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Royal Bank of Canada lowered their price target on Waste Connections from $196.00 to $195.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price objective on Waste Connections from $153.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, February 15th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $179.33.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.