Stevens Capital Management LP purchased a new position in Waste Connections Inc (NYSE:WCN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 64,584 shares of the business services provider’s stock, valued at approximately $4,862,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stephens Inc. AR increased its stake in Waste Connections by 15.5% in the first quarter. Stephens Inc. AR now owns 6,191 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 831 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Waste Connections by 11.1% in the first quarter. IFM Investors Pty Ltd now owns 8,522 shares of the business services provider’s stock valued at $611,000 after purchasing an additional 850 shares during the last quarter. Usca Ria LLC increased its stake in Waste Connections by 13.6% in the first quarter. Usca Ria LLC now owns 10,524 shares of the business services provider’s stock valued at $755,000 after purchasing an additional 1,258 shares during the last quarter. Fred Alger Management Inc. increased its stake in Waste Connections by 1.8% in the second quarter. Fred Alger Management Inc. now owns 72,359 shares of the business services provider’s stock valued at $5,447,000 after purchasing an additional 1,262 shares during the last quarter. Finally, Natixis Advisors L.P. increased its stake in Waste Connections by 7.8% in the first quarter. Natixis Advisors L.P. now owns 19,023 shares of the business services provider’s stock valued at $1,365,000 after purchasing an additional 1,375 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

WCN has been the topic of a number of research reports. Zacks Investment Research lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research report on Thursday, May 24th. TD Securities raised their target price on shares of Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Royal Bank of Canada increased their price target on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Citigroup increased their price target on Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, BMO Capital Markets increased their price target on Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, June 29th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $83.00.

In other Waste Connections news, Director Michael W. Harlan sold 11,900 shares of Waste Connections stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $79.30, for a total value of $943,670.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Darrell W. Chambliss sold 6,485 shares of Waste Connections stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The disclosure for this sale can be found here. Insiders sold a total of 38,385 shares of company stock valued at $3,063,670 in the last 90 days. 0.40% of the stock is owned by company insiders.

Shares of NYSE:WCN traded down $0.16 during midday trading on Friday, hitting $79.11. 433,252 shares of the stock were exchanged, compared to its average volume of 567,178. The company has a market capitalization of $20.95 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.72 and a beta of 0.07. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.60. Waste Connections Inc has a twelve month low of $65.06 and a twelve month high of $81.36.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Tuesday, July 24th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Waste Connections had a return on equity of 9.90% and a net margin of 14.80%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. equities analysts anticipate that Waste Connections Inc will post 2.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Tuesday, August 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.71%. The ex-dividend date was Monday, August 6th. Waste Connections’s dividend payout ratio (DPR) is 25.93%.

About Waste Connections

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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