Westfield Capital Management Co. LP Has $54.94 Million Holdings in Waste Connections, Inc. $WCN

Key Points

• Westfield Capital Management increased its stake in Waste Connections by 8.5% in the fourth quarter, bringing its holdings to 313,276 shares valued at about $54.9 million.
• Wall Street remains bullish on WCN, with an average analyst rating of “Buy” and an average price target of $203.35, while several firms recently reiterated outperform or buy ratings.
• Waste Connections reported better-than-expected EPS of $1.23 last quarter, though revenue of $2.33 billion came in below estimates; the company also paid a quarterly dividend of $0.35 per share.

Westfield Capital Management Co. LP raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 313,276 shares of the business services provider's stock after purchasing an additional 24,546 shares during the period. Westfield Capital Management Co. LP owned 0.12% of Waste Connections worth $54,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vise Technologies Inc. lifted its position in Waste Connections by 37.1% during the 4th quarter. Vise Technologies Inc. now owns 8,549 shares of the business services provider's stock valued at $1,499,000 after purchasing an additional 2,315 shares during the period. Continuum Advisory LLC increased its stake in shares of Waste Connections by 2.6% in the 4th quarter. Continuum Advisory LLC now owns 3,932 shares of the business services provider's stock valued at $690,000 after acquiring an additional 98 shares during the last quarter. Avalon Capital Management bought a new stake in shares of Waste Connections in the 4th quarter valued at about $319,000. State of Wyoming increased its stake in shares of Waste Connections by 14.1% in the 4th quarter. State of Wyoming now owns 1,535 shares of the business services provider's stock valued at $270,000 after acquiring an additional 190 shares during the last quarter. Finally, Cibc World Market Inc. increased its stake in shares of Waste Connections by 11.7% in the 4th quarter. Cibc World Market Inc. now owns 2,044,769 shares of the business services provider's stock valued at $358,652,000 after acquiring an additional 214,176 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the company an "overweight" rating in a research note on Friday, February 13th. Stifel Nicolaus set a $213.00 price target on Waste Connections and gave the company a "buy" rating in a research note on Friday, February 13th. Weiss Ratings cut Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $203.35.

Waste Connections Price Performance

NYSE WCN opened at $155.29 on Friday. The business has a 50 day simple moving average of $158.05 and a 200 day simple moving average of $165.73. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $193.08. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $39.40 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.73 and a beta of 0.51.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. Analysts anticipate that Waste Connections, Inc. will post 5.5 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections's dividend payout ratio (DPR) is currently 34.15%.

Insider Activity

In other news, SVP Eric Hansen sold 6,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president owned 13,350 shares of the company's stock, valued at approximately $2,200,347. This represents a 31.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer owned 301,017 shares in the company, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.27% of the stock is currently owned by insiders.

Waste Connections Profile

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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