WINTON GROUP Ltd Has $700,000 Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• WINTON GROUP Ltd reduced its Waste Connections stake by 68.2% in the second quarter, selling 9,000 shares and retaining 4,200 shares valued at approximately $700,000. Institutional investors and hedge funds collectively own 86.09% of the company.
• Analysts maintain a generally positive view of Waste Connections, with a consensus rating of “Moderate Buy” and an average price target of $200.89. Recent target increases included TD Cowen’s $210 target and CIBC’s $199 target.
• Waste Connections exceeded quarterly earnings expectations, reporting $1.50 in EPS and $2.56 billion in revenue, up 6.4% year over year. The company also pays a quarterly dividend of $0.35 per share, equal to a 0.9% annualized yield.

WINTON GROUP Ltd trimmed its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 68.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,200 shares of the business services provider's stock after selling 9,000 shares during the quarter. WINTON GROUP Ltd's holdings in Waste Connections were worth $700,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Waste Connections by 17,242.8% in the second quarter. California State Teachers Retirement System now owns 48,936,350 shares of the business services provider's stock valued at $8,157,200,000 after buying an additional 48,654,179 shares during the period. XXEC Inc. acquired a new stake in shares of Waste Connections during the second quarter worth $164,870,000. Royal Bank of Canada lifted its position in Waste Connections by 0.9% in the 1st quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider's stock valued at $1,983,500,000 after acquiring an additional 106,763 shares in the last quarter. Capital International Investors lifted its position in Waste Connections by 28.2% in the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock valued at $1,134,781,000 after acquiring an additional 1,420,921 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in Waste Connections in the 2nd quarter worth $1,061,947,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WCN has been the subject of a number of research reports. Barclays increased their target price on Waste Connections from $180.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 28th. Citigroup upped their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. TD Cowen reiterated a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Waste Connections in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $200.89.

Insider Activity at Waste Connections

In other news, SVP Philip Rivard sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president owned 734 shares in the company, valued at $122,262.38. This represents a 77.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert Cloninger sold 2,811 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 11,666 shares of the company's stock, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.27% of the company's stock.

Waste Connections Stock Up 0.9%

Shares of WCN stock opened at $161.15 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $179.74. The firm's fifty day moving average price is $167.27 and its two-hundred day moving average price is $162.99. The firm has a market capitalization of $40.54 billion, a P/E ratio of 38.83, a PEG ratio of 2.74 and a beta of 0.48.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results 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. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the firm posted $1.29 EPS. The company's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, August 6th. Waste Connections's dividend payout ratio is presently 33.73%.

Waste Connections Company Profile

Waste Connections, Inc is an integrated solid waste services company that provides collection, transfer, disposal, recycling and resource-recovery services across the United States and Canada. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills and recycling facilities.

Its services include curbside and containerized waste collection, construction and demolition debris management, recycling, landfill disposal, and the management of non-hazardous oilfield waste.

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