Waste Connections, Inc. $WCN Position Cut by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in Waste Connections, Inc. (NYSE:WCN) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,067,651 shares of the business services provider’s stock after selling 144,914 shares during the quarter. Franklin Resources Inc.’s holdings in Waste Connections were worth $187,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Waste Connections in the 3rd quarter worth approximately $1,911,000. Cidel Asset Management Inc. grew its holdings in Waste Connections by 19.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock worth $28,780,000 after buying an additional 26,684 shares in the last quarter. Trium Capital LLP bought a new position in Waste Connections in the 4th quarter worth approximately $1,995,000. Procyon Advisors LLC bought a new position in Waste Connections in the 4th quarter worth approximately $1,908,000. Finally, Gradient Investments LLC grew its holdings in Waste Connections by 18.5% in the 4th quarter. Gradient Investments LLC now owns 145,595 shares of the business services provider’s stock worth $25,532,000 after buying an additional 22,722 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Insider Activity at Waste Connections

In other news, COO Jason Craft sold 1,500 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the sale, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Hansen sold 6,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the sale, the senior vice president owned 13,350 shares of the company’s stock, valued at $2,200,347. This trade represents a 31.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WCN. Stifel Nicolaus set a $213.00 price objective on Waste Connections and gave the stock a “buy” rating in a report on Friday, February 13th. Wolfe Research initiated coverage on Waste Connections in a research note on Friday, March 13th. They set an “outperform” rating and a $199.00 price target for the company. Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an “overweight” rating in a research note on Friday, February 13th. TD Cowen decreased their price target on Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $218.00 price target (up from $210.00) 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.84.

Waste Connections Trading Up 2.6%

Shares of NYSE:WCN opened at $157.63 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $39.99 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.73 and a beta of 0.51. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $192.72. The company has a 50 day moving average price of $158.01 and a 200 day moving average price of $165.46.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data 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 return on equity of 16.49% and a net margin of 10.97%.The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders 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 dividend yield of 0.9%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s dividend payout ratio is 34.15%.

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.