377,377 Shares in Waste Connections, Inc. $WCN Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group acquired 377,377 Waste Connections shares worth approximately $62.9 million, giving it a roughly 0.15% stake. Institutional investors and hedge funds collectively own 86.09% of the company.
• Waste Connections reported quarterly EPS of $1.50, exceeding estimates of $1.35, while revenue rose 6.4% year over year to $2.56 billion. The company also paid a quarterly dividend of $0.35 per share, equivalent to a 0.8% yield.
• Analysts maintain a generally positive view, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $200.89, compared with its reported market price of $166.19.

Alyeska Investment Group L.P. acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 377,377 shares of the business services provider's stock, valued at approximately $62,905,000. Alyeska Investment Group L.P. owned approximately 0.15% of Waste Connections as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WCN. Kestra Private Wealth Services LLC boosted its stake in Waste Connections by 2.6% during the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock worth $449,000 after buying an additional 64 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Waste Connections by 1.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider's stock worth $701,000 after acquiring an additional 65 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Waste Connections by 12.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider's stock worth $106,000 after acquiring an additional 67 shares during the period. TD Private Client Wealth LLC increased its position in shares of Waste Connections by 21.1% during the fourth quarter. TD Private Client Wealth LLC now owns 407 shares of the business services provider's stock worth $71,000 after acquiring an additional 71 shares during the period. Finally, Lido Advisors LLC raised its stake in shares of Waste Connections by 2.4% in the fourth quarter. Lido Advisors LLC now owns 3,056 shares of the business services provider's stock valued at $537,000 after acquiring an additional 72 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Connections news, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jason Craft sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the sale, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,311 shares of company stock worth $2,303,997 in the last three months. 0.27% of the stock is owned by company insiders.

Waste Connections Stock Performance

NYSE:WCN opened at $166.19 on Monday. The firm has a market capitalization of $41.81 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 2.85 and a beta of 0.48. The business's fifty day moving average price is $167.73 and its 200 day moving average price is $163.05. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $185.33.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's payout ratio is presently 33.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WCN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a report on Friday, August 7th. Citigroup upped their price target on Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. reduced their price target on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. UBS Group reiterated a "neutral" rating and issued a $176.00 price objective (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. Finally, TD Cowen reissued a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Waste Connections presently has an average rating of "Moderate Buy" and a consensus price target 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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