Geode Capital Management LLC Buys 49,618 Shares of Waste Connections, Inc. $WCN

Geode Capital Management LLC increased its stake in Waste Connections, Inc. (NYSE:WCN) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 873,578 shares of the business services provider’s stock after purchasing an additional 49,618 shares during the period. Geode Capital Management LLC’s holdings in Waste Connections were worth $160,481,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Waste Connections during the first quarter worth approximately $577,000. Invesco Ltd. raised its stake in shares of Waste Connections by 12.8% during the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock worth $40,946,000 after acquiring an additional 24,948 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Waste Connections by 2.9% during the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock worth $4,572,000 after acquiring an additional 688 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Waste Connections during the second quarter worth approximately $2,714,000. Finally, State Street Corp raised its stake in shares of Waste Connections by 1.0% during the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock worth $337,708,000 after acquiring an additional 17,197 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Up 1.2%

Shares of NYSE WCN opened at $150.87 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $193.62. The firm’s fifty day moving average is $158.15 and its 200 day moving average is $165.91. The company has a market cap of $38.28 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 2.65 and a beta of 0.51.

Waste Connections (NYSE:WCN) last issued its earnings results 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 net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Dividend Announcement

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

Wall Street Analyst Weigh In

WCN has been the topic of several research reports. Morgan Stanley set a $205.00 price target on shares of Waste Connections and gave the stock an “overweight” rating in a research note on Friday, February 13th. TD Cowen decreased their price target on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. BMO Capital Markets reissued 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. Barclays set a $180.00 price target on shares of Waste Connections and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus set a $213.00 price target on shares of Waste Connections and gave the stock a “buy” rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Waste Connections currently has an average rating of “Buy” and an average target price of $203.35.

Insider Transactions at Waste Connections

In other news, SVP Eric Hansen sold 6,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the sale, the senior vice president directly owned 13,350 shares in the company, valued at approximately $2,200,347. This represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James Little sold 2,605 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the sale, the vice president 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 disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

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.