Sumitomo Mitsui Trust Holdings Inc. Sells 407,427 Shares of Waste Connections, Inc. (NYSE:WCN)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Waste Connections, Inc. (NYSE:WCN) by 58.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 290,673 shares of the business services provider’s stock after selling 407,427 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.11% of Waste Connections worth $50,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its position in shares of Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares during the period. OFI Invest Asset Management acquired a new position in Waste Connections in the first quarter valued at about $32,000. Pathway Financial Advisers LLC bought a new stake in Waste Connections during the first quarter worth about $43,000. Signature Resources Capital Management LLC acquired a new stake in Waste Connections during the second quarter worth about $45,000. Finally, Rational Advisors LLC acquired a new stake in Waste Connections during the first quarter worth about $53,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the sale, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the transaction, the chief financial officer now owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the sale, the senior vice president now directly owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,600 shares of company stock worth $4,011,550. 0.31% of the stock is currently owned by insiders.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $181.88 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. Waste Connections, Inc. has a 52 week low of $126.12 and a 52 week high of $183.65. The firm has a market cap of $46.93 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. The firm’s fifty day moving average is $176.89 and its 200-day moving average is $169.84.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.17 by $0.07. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the business earned $1.02 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, August 7th. Waste Connections’s dividend payout ratio is presently 37.01%.

Analysts Set New Price Targets

WCN has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. CIBC lifted their price target on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their price target on Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on Waste Connections from $175.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus target price of $187.28.

Waste Connections Company Profile

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.