PNC Financial Services Group Inc. trimmed its holdings in Waste Connections, Inc. (NYSE:WCN – Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,179 shares of the business services provider’s stock after selling 1,420 shares during the period. PNC Financial Services Group Inc.’s holdings in Waste Connections were worth $11,819,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Wahed Invest LLC boosted its holdings in shares of Waste Connections by 10.2% in the fourth quarter. Wahed Invest LLC now owns 2,054 shares of the business services provider’s stock worth $308,000 after acquiring an additional 190 shares during the period. Wellington Management Group LLP boosted its stake in Waste Connections by 43.4% in the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after purchasing an additional 1,320,933 shares during the period. Integrated Advisors Network LLC bought a new position in Waste Connections in the 4th quarter worth about $215,000. Virtu Financial LLC purchased a new position in Waste Connections during the 4th quarter valued at about $1,005,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Waste Connections during the fourth quarter valued at about $85,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, SVP Robert Nielsen III sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction dated 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 $1,049,286. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of the 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 sale, the director now owns 8,004 shares of the company’s stock, valued at $1,341,390.36. The disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock valued at $752,385 in the last ninety days. Company insiders own 0.31% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Waste Connections from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price target for the company. Jefferies Financial Group increased their price objective on Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada reduced their target price on Waste Connections from $196.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, UBS Group lowered Waste Connections from a “buy” rating to a “neutral” rating and upped their target price for the stock from $170.00 to $181.00 in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus price target of $179.94.
Check Out Our Latest Report on WCN
Waste Connections Price Performance
WCN stock opened at $173.01 on Wednesday. The firm has a market cap of $44.64 billion, a P/E ratio of 56.17, a P/E/G ratio of 2.69 and a beta of 0.70. The firm’s fifty day moving average is $165.81 and its 200 day moving average is $160.66. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $173.88. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.75 and a current ratio of 0.75.
Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Research analysts predict that Waste Connections, Inc. will post 4.85 earnings per share for the current year.
Waste Connections Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were given a dividend of $0.285 per share. The ex-dividend date was Tuesday, May 7th. This represents a $1.14 annualized dividend and a yield of 0.66%. Waste Connections’s payout ratio is 37.01%.
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.
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Source: defenseworld.net
