Puzo Michael J Takes $1.39 Million Position in Waste Connections, Inc. $WCN

Puzo Michael J bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,525 shares of the business services provider’s stock, valued at approximately $1,385,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. bought a new position in Waste Connections in the 4th quarter valued at about $26,000. Measured Wealth Private Client Group LLC bought a new stake in Waste Connections during the 3rd quarter worth approximately $26,000. Transamerica Financial Advisors LLC increased its holdings in Waste Connections by 346.2% during the 4th 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. Whipplewood Advisors LLC increased its holdings 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 purchasing an additional 175 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Waste Connections in the fourth quarter worth approximately $36,000. 86.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares in the company, valued at $5,145,703.99. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the transaction, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 17,605 shares of company stock valued at $2,822,923 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Waste Connections Trading Down 0.6%

NYSE:WCN opened at $170.93 on Tuesday. 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 firm has a market cap of $43.13 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 3.02 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 firm has a 50-day moving average price of $160.19 and a two-hundred day moving average price of $163.39.

Waste Connections (NYSE:WCN) last posted 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 firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last 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, equities analysts expect that Waste Connections, Inc. will post 5.49 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors 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 yield of 0.8%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s dividend payout ratio (DPR) is 34.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays set a $180.00 target price on Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Citigroup upped their price target on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Three 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.00.

Waste Connections Company 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.