JPMorgan Chase & Co. Buys 1,289,042 Shares of Waste Connections, Inc. $WCN

JPMorgan Chase & Co. increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 37.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,763,742 shares of the business services provider’s stock after acquiring an additional 1,289,042 shares during the quarter. JPMorgan Chase & Co.’s holdings in Waste Connections were worth $835,370,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WCN. City Holding Co. bought a new stake in shares of Waste Connections during the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections during the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Waste Connections in the 3rd quarter valued at about $30,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Waste Connections in the 4th quarter valued at about $36,000. Finally, Entrust Financial LLC bought a new stake in Waste Connections in the 4th quarter valued at about $37,000. Institutional investors 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 company’s 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 completion of the sale, the chief operating officer owned 32,861 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer owned 301,017 shares in the company, valued at $45,826,828.08. This trade represents a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 17,605 shares of company stock worth $2,822,923 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $157.63 on Wednesday. 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 company has a market capitalization of $39.99 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.73 and a beta of 0.51. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $192.72. The firm has a 50-day moving average price of $158.01 and a two-hundred day moving average price of $165.46.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, topping 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 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 posted $1.13 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently declared 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 of this dividend was Wednesday, May 6th. Waste Connections’s dividend payout ratio is 34.15%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WCN shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on shares of Waste Connections in a report on Friday, February 13th. Scotiabank set a $197.00 price objective on shares of Waste Connections and gave the company a “sector outperform” rating in a report on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $208.00 price objective (up from $206.00) 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 given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.84.

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.