Findlay Park Partners LLP Sells 133,396 Shares of Waste Connections, Inc. (NYSE:WCN)

Findlay Park Partners LLP decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,511,002 shares of the business services provider’s stock after selling 133,396 shares during the quarter. Waste Connections accounts for approximately 2.2% of Findlay Park Partners LLP’s portfolio, making the stock its 18th largest position. Findlay Park Partners LLP’s holdings in Waste Connections were worth $200,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baldwin Brothers LLC MA lifted its position in Waste Connections by 277.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 272 shares of the business services provider’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Rede Wealth LLC bought a new position in shares of Waste Connections during the fourth quarter valued at approximately $304,000. Marshall & Sullivan Inc. WA bought a new position in shares of Waste Connections during the fourth quarter valued at approximately $50,000. IFP Advisors Inc raised its holdings in shares of Waste Connections by 65.3% during the third quarter. IFP Advisors Inc now owns 496 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 196 shares in the last quarter. Finally, Power Corp of Canada bought a new position in shares of Waste Connections during the first quarter valued at approximately $84,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $137.55 on Wednesday. The stock has a market capitalization of $35.43 billion, a PE ratio of 41.56, a P/E/G ratio of 2.99 and a beta of 0.68. The business has a 50 day simple moving average of $139.34 and a two-hundred day simple moving average of $136.63. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.82. Waste Connections, Inc. has a 1-year low of $113.50 and a 1-year high of $148.20.

Waste Connections (NYSE:WCN – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Waste Connections had a return on equity of 14.22% and a net margin of 11.43%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company earned $0.82 EPS. Waste Connections’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, research analysts predict that Waste Connections, Inc. will post 4.2 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Tuesday, May 9th. Waste Connections’s dividend payout ratio (DPR) is presently 30.82%.

Analysts Set New Price Targets

A number of equities analysts recently commented on WCN shares. Truist Financial started coverage on Waste Connections in a report on Monday, April 17th. They set a “buy” rating and a $160.00 target price for the company. BMO Capital Markets cut their target price on Waste Connections from $158.00 to $153.00 and set an “outperform” rating on the stock in a research note on Friday, February 17th. Morgan Stanley increased their price objective on Waste Connections from $158.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. StockNews.com assumed coverage on Waste Connections in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, TD Cowen assumed coverage on Waste Connections in a report on Thursday, March 30th. They issued an “outperform” rating and a $160.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections has an average rating of “Buy” and an average price target of $156.22.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Robert Michael Cloninger sold 1,500 shares of Waste Connections stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $133.55, for a total transaction of $200,325.00. Following the completion of the sale, the senior vice president now directly owns 15,244 shares of the company’s stock, valued at approximately $2,035,836.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP James Little sold 4,500 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $135.87, for a total transaction of $611,415.00. Following the completion of the sale, the vice president now directly owns 29,410 shares in the company, valued at approximately $3,995,936.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Michael Cloninger sold 1,500 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $133.55, for a total value of $200,325.00. Following the sale, the senior vice president now owns 15,244 shares of the company’s stock, valued at $2,035,836.20. The disclosure for this sale can be found here. Insiders sold a total of 8,700 shares of company stock valued at $1,177,955 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.

About Waste Connections

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Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. The firm offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.