Hsbc Holdings PLC Lowers Holdings in Waste Connections, Inc. (NYSE:WCN)

Hsbc Holdings PLC lowered its position in shares of Waste Connections, Inc. (NYSE:WCN) by 35.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,300 shares of the business services provider’s stock after selling 78,183 shares during the period. Hsbc Holdings PLC owned about 0.06% of Waste Connections worth $25,553,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WCN. Vanguard Group Inc. grew its holdings in Waste Connections by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock worth $4,902,110,000 after acquiring an additional 88,137 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Waste Connections by 9.8% in the 4th quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock worth $856,641,000 after purchasing an additional 509,929 shares during the period. Wellington Management Group LLP boosted its stake in shares of Waste Connections by 43.4% during the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock valued at $651,427,000 after purchasing an additional 1,320,933 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Waste Connections by 7.3% during the fourth quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock valued at $612,605,000 after buying an additional 280,275 shares during the period. Finally, Alphinity Investment Management Pty Ltd raised its stake in Waste Connections by 8.3% in the first quarter. Alphinity Investment Management Pty Ltd now owns 2,516,867 shares of the business services provider’s stock worth $432,926,000 after buying an additional 193,787 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on WCN shares. Raymond James increased their target price on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research report on Monday, July 22nd. CIBC lifted their target price on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their target price 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. TD Cowen raised their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, BMO Capital Markets lifted their price objective on shares of Waste Connections from $196.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Moderate Buy” and a consensus target price of $187.28.

Waste Connections Stock Down 0.0 %

Shares of WCN stock opened at $179.15 on Friday. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $187.54. The firm has a market capitalization of $46.22 billion, a PE ratio of 58.17, a P/E/G ratio of 2.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $181.85 and its 200-day simple moving average is $173.42.

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

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Wednesday, August 7th. Waste Connections’s payout ratio is 37.01%.

Insiders Place Their Bets

In other news, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the sale, the chief financial officer now owns 48,899 shares in the company, valued at $8,706,466.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Philip Rivard sold 2,300 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $174.75, for a total transaction of $401,925.00. Following the sale, the senior vice president now directly owns 1,226 shares in the company, valued at $214,243.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,600 shares of company stock valued at $3,842,550. Company insiders own 0.31% of the company’s stock.

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.