133,313 Shares in Waste Connections, Inc. $WCN Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in shares of Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 133,313 shares of the business services provider’s stock, valued at approximately $22,232,000.

Several other institutional investors have also bought and sold shares of WCN. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections during the third quarter worth $26,000. Group One Trading LLC acquired a new stake in shares of Waste Connections in the 2nd quarter valued at $30,000. Whipplewood Advisors LLC boosted its stake in shares of Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of Waste Connections by 346.2% in 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 during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Waste Connections in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Activity at Waste Connections

In other news, COO Jason Craft sold 1,500 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the sale, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Patrick James Shea sold 7,500 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This represents a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 14,311 shares of company stock valued at $2,303,997. Insiders own 0.27% of the company’s stock.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $165.88 on Friday. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $185.33. The firm has a market cap of $41.73 billion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The business has a fifty day moving average of $167.49 and a 200-day moving average of $163.09.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. On average, equities research analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s payout ratio is currently 33.73%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WCN. UBS Group reiterated a “neutral” rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Barclays upped their price objective on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Citigroup raised their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Finally, TD Cowen reiterated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Two equities research 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 company. Based on data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average target price of $200.89.

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.