Corient Private Wealth LLC Has $11.98 Million Holdings in Waste Connections, Inc. $WCN

Corient Private Wealth LLC cut its stake in Waste Connections, Inc. (NYSE:WCN) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 68,335 shares of the business services provider’s stock after selling 3,638 shares during the period. Corient Private Wealth LLC’s holdings in Waste Connections were worth $11,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. City Holding Co. bought a new position in shares of Waste Connections during the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections in the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Waste Connections during the third quarter worth about $30,000. Transamerica Financial Advisors LLC grew its position in Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after buying an additional 135 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the fourth quarter worth about $36,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Trading Up 4.0%

Shares of WCN opened at $159.58 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock has a market cap of $40.49 billion, a PE ratio of 38.92, a PEG ratio of 2.72 and a beta of 0.51. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.91. The stock has a 50 day simple moving average of $156.44 and a 200-day simple moving average of $164.11.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

Insider Transactions at Waste Connections

In other Waste Connections news, VP James Little sold 2,605 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the sale, the vice president directly owned 34,395 shares of the company’s stock, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WCN shares. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Barclays set a $180.00 price objective on Waste Connections and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Wolfe Research initiated coverage on Waste Connections in a research report on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and an average price target of $202.84.

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.