US Bancorp DE Purchases 12,865 Shares of Waste Connections, Inc. (NYSE:WCN)

US Bancorp DE increased its holdings in Waste Connections, Inc. (NYSE:WCNFree Report) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,034 shares of the business services provider’s stock after acquiring an additional 12,865 shares during the quarter. US Bancorp DE’s holdings in Waste Connections were worth $9,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. Norges Bank purchased a new stake in shares of Waste Connections in the 4th quarter worth approximately $592,392,000. Simplicity Solutions LLC boosted its position in Waste Connections by 114.2% during the 4th quarter. Simplicity Solutions LLC now owns 9,205 shares of the business services provider’s stock valued at $1,374,000 after acquiring an additional 4,907 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Waste Connections by 51.6% in the 4th quarter. Nordea Investment Management AB now owns 220,327 shares of the business services provider’s stock valued at $32,895,000 after acquiring an additional 74,995 shares during the period. Sycomore Asset Management raised its position in shares of Waste Connections by 41.6% in the 4th quarter. Sycomore Asset Management now owns 37,826 shares of the business services provider’s stock worth $5,646,000 after acquiring an additional 11,110 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Waste Connections by 5.0% in the 3rd quarter. New York State Common Retirement Fund now owns 214,346 shares of the business services provider’s stock worth $28,787,000 after acquiring an additional 10,179 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

Shares of NYSE WCN opened at $165.47 on Monday. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $173.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. The firm has a market cap of $42.69 billion, a P/E ratio of 53.72, a P/E/G ratio of 2.64 and a beta of 0.67. The business’s 50 day moving average price is $167.06 and its 200 day moving average price is $156.72.

Waste Connections (NYSE:WCNGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that Waste Connections, Inc. will post 4.85 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 23rd. Stockholders of record on Wednesday, May 8th were issued a $0.285 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.69%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. CIBC lifted their target price on Waste Connections from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Oppenheimer lifted their price objective on shares of Waste Connections from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Connections in a research report on Thursday. They set a “buy” rating and a $189.00 target price for the company. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Finally, UBS Group lowered Waste Connections from a “buy” rating to a “neutral” rating and increased their price objective for the company from $170.00 to $181.00 in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.94.

View Our Latest Analysis on Waste Connections

Insider Buying and Selling at Waste Connections

In other news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the transaction, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at approximately $1,049,286. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of Waste Connections stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the completion of the transaction, the senior vice president now owns 6,321 shares of the company’s stock, valued at $1,049,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the completion of the transaction, the director now owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Waste Connections Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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