Principal Financial Group Inc. Decreases Stock Holdings in Waste Connections, Inc. $WCN

Principal Financial Group Inc. decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 17.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,488,548 shares of the business services provider’s stock after selling 320,193 shares during the quarter. Principal Financial Group Inc. owned approximately 0.58% of Waste Connections worth $241,806,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. City Holding Co. acquired a new position in shares of Waste Connections in the 4th quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Waste Connections during the third quarter worth $30,000. Whipplewood Advisors LLC raised its position in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after buying an additional 175 shares during the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in shares of 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 acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Down 0.9%

WCN stock opened at $169.69 on Wednesday. The company has a market cap of $43.05 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 3.00 and a beta of 0.49. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $191.91. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $158.65 and a 200-day simple moving average of $163.57.

Waste Connections (NYSE:WCN) last issued its 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 business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm posted $1.13 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

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

Insider Activity at Waste Connections

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. 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. Citigroup lifted their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

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.