Envestnet Asset Management Inc. Sells 7,088 Shares of Waste Connections, Inc. (NYSE:WCN)

Envestnet Asset Management Inc. trimmed its holdings in Waste Connections, Inc. (NYSE:WCNFree Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 530,922 shares of the business services provider’s stock after selling 7,088 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of Waste Connections worth $79,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Cibc World Markets Corp bought a new position in shares of Waste Connections in the fourth quarter valued at $1,071,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Waste Connections by 113.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider’s stock valued at $177,438,000 after buying an additional 630,685 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Waste Connections by 7.3% in the fourth quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock valued at $612,605,000 after buying an additional 280,275 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of Waste Connections in the fourth quarter valued at $76,000. Finally, Burgundy Asset Management Ltd. bought a new position in shares of Waste Connections in the fourth quarter valued at $35,342,000. 86.09% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the completion of the sale, the director now directly owns 8,004 shares in the company, valued at approximately $1,341,390.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Robert Nielsen III sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction of $332,000.00. Following the sale, the senior vice president now owns 6,321 shares of the company’s stock, valued at approximately $1,049,286. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the sale, the director now directly owns 8,004 shares in the company, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WCN has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Waste Connections from $146.50 to $179.00 and gave the stock a “sector perform” rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Connections in a report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Waste Connections from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Oppenheimer lifted their price objective on shares of Waste Connections from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada lowered their price objective on shares of Waste Connections from $196.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.94.

Check Out Our Latest Research Report on Waste Connections

Waste Connections Price Performance

WCN stock opened at $165.54 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $173.02. The stock has a market cap of $42.71 billion, a PE ratio of 53.75, a P/E/G ratio of 2.64 and a beta of 0.70. The firm has a 50 day simple moving average of $165.75 and a two-hundred day simple moving average of $158.96.

Waste Connections (NYSE:WCNGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Waste Connections, Inc. will post 4.85 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were paid a $0.285 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.69%. Waste Connections’s dividend payout ratio (DPR) is 37.01%.

Waste Connections Profile

(Free Report)

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

Read More

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCNFree Report).

Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.