US Bancorp DE Sells 5,432 Shares of Waste Connections, Inc. (NYSE:WCN)

US Bancorp DE cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,983 shares of the business services provider’s stock after selling 5,432 shares during the period. US Bancorp DE’s holdings in Waste Connections were worth $11,263,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Waste Connections by 1,167.4% during the second quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock worth $83,020,000 after acquiring an additional 436,067 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Waste Connections by 438.5% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 535,471 shares of the business services provider’s stock valued at $92,106,000 after purchasing an additional 436,041 shares during the period. Nicholas Company Inc. purchased a new stake in Waste Connections during the 2nd quarter worth about $64,176,000. Sei Investments Co. boosted its stake in Waste Connections by 252.5% in the 2nd quarter. Sei Investments Co. now owns 510,243 shares of the business services provider’s stock worth $89,477,000 after purchasing an additional 365,487 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Waste Connections by 4,567.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 253,567 shares of the business services provider’s stock valued at $44,466,000 after buying an additional 248,134 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

NYSE:WCN opened at $176.96 on Friday. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 2.95 and a beta of 0.72. The business has a 50 day moving average of $181.32 and a 200 day moving average of $175.56. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. Waste Connections, Inc. has a 1-year low of $129.31 and a 1-year high of $187.54.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is 31.32%.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, October 25th. Truist Financial boosted their price target on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Finally, Oppenheimer lifted their price objective on Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.56.

Insider Transactions at Waste Connections

In related news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the sale, the senior vice president now directly owns 4,321 shares in the company, valued at $778,428.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Philip Rivard sold 2,300 shares of Waste Connections stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the sale, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Waste Connections 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.