Clearbridge Investments LLC Sells 26,742 Shares of Waste Connections, Inc. $WCN

Clearbridge Investments LLC trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 907,316 shares of the business services provider’s stock after selling 26,742 shares during the period. Clearbridge Investments LLC owned 0.35% of Waste Connections worth $159,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management grew its holdings in Waste Connections by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 64 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Waste Connections by 2.6% in the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after acquiring an additional 64 shares during the period. WPG Advisers LLC boosted its holdings in shares of Waste Connections by 7.7% in the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after acquiring an additional 66 shares during the period. RDA Financial Network boosted its holdings in shares of Waste Connections by 2.8% in the fourth quarter. RDA Financial Network now owns 2,459 shares of the business services provider’s stock worth $431,000 after acquiring an additional 67 shares during the period. Finally, Integrated Advisors Network LLC boosted its holdings in shares of Waste Connections by 4.3% in the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider’s stock worth $296,000 after acquiring an additional 70 shares during the period. 86.09% of the stock is owned by institutional investors.

Insider Activity at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the purchase, the chief executive officer owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. This represents a 19.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James Little sold 2,605 shares of Waste Connections stock in a transaction on Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the sale, the vice president directly owned 34,395 shares of the company’s stock, valued at $5,640,092.10. This represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by corporate insiders.

Waste Connections Price Performance

NYSE:WCN opened at $155.29 on Monday. The firm has a market capitalization of $39.40 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $193.08. The stock has a fifty day moving average of $158.05 and a 200 day moving average of $165.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) 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 return on equity of 16.49% and a net margin of 10.97%.The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. On average, research analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is currently 34.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WCN. Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $212.00 price target on Waste Connections in a report on Friday, February 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. TD Cowen cut their price target on Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Wolfe Research began coverage on Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $203.35.

About Waste Connections

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.