Hsbc Holdings PLC Cuts Stock Holdings in Waste Connections, Inc. $WCN

Hsbc Holdings PLC lowered its position in shares of Waste Connections, Inc. (NYSE:WCN) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,378 shares of the business services provider’s stock after selling 98,127 shares during the period. Hsbc Holdings PLC’s holdings in Waste Connections were worth $21,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital International Investors increased its holdings in shares of Waste Connections by 28.2% in the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock worth $1,134,781,000 after purchasing an additional 1,420,921 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Waste Connections by 17.6% during the 3rd quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock valued at $1,078,536,000 after acquiring an additional 918,245 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock valued at $835,370,000 after acquiring an additional 1,289,042 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Waste Connections by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,675,737 shares of the business services provider’s stock valued at $819,939,000 after acquiring an additional 220,575 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Waste Connections in the fourth quarter worth approximately $697,519,000. 86.09% of the stock is owned by institutional investors.

Waste Connections Trading Up 4.3%

Shares of Waste Connections stock opened at $166.36 on Thursday. The company’s fifty day simple moving average is $156.54 and its 200-day simple moving average is $164.06. The stock has a market capitalization of $42.21 billion, a PE ratio of 40.58, a P/E/G ratio of 2.83 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 company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick 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 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 business posted $1.13 EPS. Waste Connections’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were given a $0.35 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s dividend payout ratio is presently 34.15%.

Insiders Place Their Bets

In other news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the transaction, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. This trade represents a 19.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Patrick James Shea sold 7,500 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WCN. Wolfe Research initiated coverage on shares of Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. BMO Capital Markets restated an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Connections currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.84.

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.