TimesSquare Capital Management LLC Has $90.38 Million Position in Waste Connections Inc (NYSE:WCN)

TimesSquare Capital Management LLC reduced its stake in Waste Connections Inc (NYSE:WCN) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 945,600 shares of the business services provider’s stock after selling 239,800 shares during the period. TimesSquare Capital Management LLC owned about 0.36% of Waste Connections worth $90,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WCN. FMR LLC boosted its position in Waste Connections by 50.3% during the 1st quarter. FMR LLC now owns 3,455,088 shares of the business services provider’s stock worth $306,071,000 after buying an additional 1,155,609 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Waste Connections by 1,018.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 703,287 shares of the business services provider’s stock worth $81,784,000 after buying an additional 640,380 shares during the period. California Public Employees Retirement System boosted its position in Waste Connections by 41.9% during the 1st quarter. California Public Employees Retirement System now owns 1,200,672 shares of the business services provider’s stock worth $106,368,000 after buying an additional 354,718 shares during the period. TD Asset Management Inc. boosted its position in Waste Connections by 5.9% during the 1st quarter. TD Asset Management Inc. now owns 5,273,487 shares of the business services provider’s stock worth $467,243,000 after buying an additional 291,924 shares during the period. Finally, Toronto Dominion Bank boosted its position in Waste Connections by 31.1% during the 1st quarter. Toronto Dominion Bank now owns 1,107,008 shares of the business services provider’s stock worth $98,525,000 after buying an additional 262,576 shares during the period. Institutional investors own 83.03% of the company’s stock.

WCN has been the topic of several recent research reports. Raymond James lifted their target price on shares of Waste Connections from $105.00 to $106.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada set a $100.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of Waste Connections in a research report on Wednesday, August 7th. They set an “overweight” rating and a $98.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Waste Connections in a research report on Thursday, April 25th. Finally, BMO Capital Markets set a $105.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and a consensus target price of $96.40.



Waste Connections stock traded up $0.75 during mid-day trading on Friday, hitting $92.02. 30,371 shares of the stock were exchanged, compared to its average volume of 883,014. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. Waste Connections Inc has a 12 month low of $70.28 and a 12 month high of $97.93. The firm’s fifty day simple moving average is $94.25 and its two-hundred day simple moving average is $90.34. The stock has a market capitalization of $24.54 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.02 and a beta of 0.20.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.69. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts forecast that Waste Connections Inc will post 2.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.64 annualized dividend and a yield of 0.70%. Waste Connections’s payout ratio is 25.40%.

In other news, Director William J. Razzouk sold 6,000 shares of Waste Connections stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $90.29, for a total value of $541,740.00. Following the completion of the sale, the director now owns 13,919 shares in the company, valued at approximately $1,256,746.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patrick James Shea sold 17,000 shares of Waste Connections stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $92.35, for a total transaction of $1,569,950.00. Following the completion of the sale, the vice president now owns 26,269 shares of the company’s stock, valued at approximately $2,425,942.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,600 shares of company stock valued at $4,766,745. Company insiders own 0.30% of the company’s stock.

Waste Connections Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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