Arrowstreet Capital Limited Partnership Increases Stake in Waste Connections, Inc. $WCN

Arrowstreet Capital Limited Partnership increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 70.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200,977 shares of the business services provider’s stock after acquiring an additional 497,944 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.47% of Waste Connections worth $195,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ritholtz Wealth Management raised its position in shares of Waste Connections by 2.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 64 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Waste Connections by 2.6% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after acquiring an additional 64 shares during the last quarter. WPG Advisers LLC raised its position in Waste Connections by 7.7% during the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock valued at $161,000 after purchasing an additional 66 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Waste Connections by 12.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 67 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Waste Connections by 2.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,991 shares of the business services provider’s stock valued at $525,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Activity at Waste Connections

In other Waste Connections news, VP James Little sold 2,605 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president owned 34,395 shares of the company’s stock, valued at $5,640,092.10. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the sale, the chief operating officer owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,605 shares of company stock worth $2,822,923 over the last three months. Company insiders own 0.27% of the company’s stock.

Waste Connections Stock Up 0.9%

WCN stock opened at $169.52 on Friday. The stock has a market capitalization of $42.78 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. The company has a fifty day moving average of $161.36 and a 200-day moving average of $163.28. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.69 and a current ratio of 0.66. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.91.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. As a group, analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.

Analysts Set New Price Targets

Several analysts have weighed in on WCN shares. Citigroup boosted their price target on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Barclays set a $180.00 price target on shares of Waste Connections and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $199.00 target price on shares of Waste Connections in a research report on Friday. The Goldman Sachs Group reiterated a “buy” rating and set a $211.00 price target on shares of Waste Connections in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.05.

Waste Connections Company 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.