Waste Connections, Inc. $WCN Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in Waste Connections, Inc. (NYSE:WCN) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,067,651 shares of the business services provider’s stock after selling 144,914 shares during the quarter. Franklin Resources Inc. owned approximately 0.42% of Waste Connections worth $187,227,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. City Holding Co. acquired a new stake in Waste Connections during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Waste Connections during the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Waste Connections during the third quarter valued at approximately $30,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the fourth quarter valued at approximately $36,000. Finally, Entrust Financial LLC acquired a new stake in Waste Connections during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Activity at Waste Connections

In other news, SVP Eric Hansen sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the transaction, the senior vice president directly owned 13,350 shares of the company’s stock, valued at approximately $2,200,347. This represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Little sold 2,605 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares of the company’s stock, valued at $5,640,092.10. This trade represents a 7.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WCN has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Stifel Nicolaus set a $213.00 price objective on Waste Connections and gave the company a “buy” rating in a research note on Friday, February 13th. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the company an “overweight” rating in a research note on Friday, February 13th. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.84.

Waste Connections Stock Up 2.6%

NYSE:WCN opened at $157.63 on Wednesday. The firm has a market capitalization of $39.99 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51. The stock has a 50 day moving average of $158.01 and a 200-day moving average of $165.46. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $192.72. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 earnings per share. Analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio is 34.15%.

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.