Carderock Capital Management Inc. Cuts Position in Waste Connections, Inc. $WCN

Carderock Capital Management Inc. decreased its position in Waste Connections, Inc. (NYSE:WCN) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,212 shares of the business services provider’s stock after selling 13,223 shares during the quarter. Carderock Capital Management Inc.’s holdings in Waste Connections were worth $5,824,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in WCN. SG Americas Securities LLC raised its holdings in shares of Waste Connections by 72.0% in the 4th quarter. SG Americas Securities LLC now owns 233,477 shares of the business services provider’s stock valued at $40,943,000 after purchasing an additional 97,706 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Waste Connections by 54.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 10,638 shares of the business services provider’s stock worth $1,865,000 after purchasing an additional 3,738 shares in the last quarter. Diversified Trust Co. purchased a new position in Waste Connections in the fourth quarter valued at $758,000. Westview Management dba Westview Investment Advisors purchased a new position in Waste Connections in the fourth quarter valued at $3,289,000. Finally, True Wealth Design LLC raised its stake in Waste Connections by 912.5% in the fourth quarter. True Wealth Design LLC now owns 324 shares of the business services provider’s stock valued at $57,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 price target for the company. Scotiabank set a $197.00 target price on Waste Connections and gave the stock a “sector outperform” rating in a research report on Friday, February 13th. Sanford C. Bernstein restated an “outperform” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $210.00 price target (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $203.52.

Waste Connections Stock Performance

Shares of WCN stock opened at $162.36 on Tuesday. The stock’s 50-day moving average is $167.05 and its two-hundred day moving average is $171.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 0.62. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The firm has a market cap of $41.44 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 2.79 and a beta of 0.62.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. Analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th were paid a $0.35 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s payout ratio is currently 33.57%.

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.