Delta Global Management LP Sells 7,165 Shares of Waste Connections, Inc. $WCN

Delta Global Management LP lessened its holdings in Waste Connections, Inc. (NYSE:WCN) by 49.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,205 shares of the business services provider’s stock after selling 7,165 shares during the period. Delta Global Management LP’s holdings in Waste Connections were worth $1,263,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. City Holding Co. bought a new stake in shares of Waste Connections in the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections in the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Waste Connections in the third quarter worth $30,000. Transamerica Financial Advisors LLC lifted its position in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Waste Connections in the fourth quarter worth $36,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN stock opened at $156.87 on Wednesday. The stock has a market cap of $39.80 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.75 and a beta of 0.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The company has a fifty day moving average price of $157.28 and a two-hundred day moving average price of $164.80. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.91.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

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

Insider Activity

In other Waste Connections news, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president directly owned 19,737 shares of the company’s stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James Little sold 2,605 shares of Waste Connections stock in a transaction on Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares of the company’s stock, valued at approximately $5,640,092.10. This trade represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Wall Street Analysts Forecast Growth

WCN has been the subject of several analyst reports. Wolfe Research started coverage on shares of Waste Connections in a research note on Friday, March 13th. They issued an “outperform” rating and a $199.00 target price for the company. Barclays set a $180.00 price target on shares of Waste Connections and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. BMO Capital Markets reiterated 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.84.

Waste Connections 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.