158,009 Shares in Waste Connections, Inc. $WCN Purchased by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management purchased 158,009 Waste Connections shares valued at approximately $26.3 million, while institutional investors collectively own 86.09% of the company.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS versus the $1.35 consensus estimate and $2.56 billion in revenue, up 6.4% year over year.
• Insiders sold 11,811 shares worth approximately $1.89 million during the last quarter. The company also declared a quarterly dividend of $0.35 per share, an annualized yield of about 0.8%.

TimesSquare Capital Management LLC purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 158,009 shares of the business services provider's stock, valued at approximately $26,339,000. TimesSquare Capital Management LLC owned 0.06% of Waste Connections as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WCN. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Waste Connections in the second quarter valued at about $50,891,000. OneDigital Investment Advisors LLC bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $415,000. J.Safra Asset Management Corp purchased a new stake in shares of Waste Connections during the 2nd quarter worth approximately $424,000. Global Retirement Partners LLC purchased a new stake in shares of Waste Connections during the 2nd quarter worth approximately $280,000. Finally, Alberta Investment Management Corp bought a new stake in shares of Waste Connections in the 2nd quarter worth approximately $11,492,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Insiders Place Their Bets

In other news, SVP Robert Michael Cloninger sold 2,811 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the transaction, the senior vice president owned 11,666 shares of the company's stock, valued at $1,995,119.32. This represents a 19.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the sale, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,811 shares of company stock valued at $1,887,572 in the last quarter. Corporate insiders own 0.27% of the company's stock.

Waste Connections Price Performance

Shares of NYSE WCN opened at $165.13 on Tuesday. The stock's 50-day simple moving average is $165.64 and its two-hundred day simple moving average is $163.12. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $188.75. The firm has a market capitalization of $41.54 billion, a P/E ratio of 39.79, a P/E/G ratio of 2.86 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.Waste Connections's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 6th. Waste Connections's payout ratio is currently 33.73%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays upped their price objective on Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 28th. Royal Bank Of Canada reissued an "outperform" rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Citigroup boosted their target price on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $199.00 price target on shares of Waste Connections in a research report on Friday, July 24th. Finally, UBS Group reiterated a "neutral" rating and set a $176.00 price target (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Connections has a consensus rating of "Moderate Buy" and an average target price of $200.89.

About Waste Connections

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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