Sasco Capital Inc. CT Sells 1,670 Shares of Waste Connections Inc (NYSE:WCN)

Sasco Capital Inc. CT lowered its position in shares of Waste Connections Inc (NYSE:WCN) by 24.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,222 shares of the business services provider’s stock after selling 1,670 shares during the quarter. Sasco Capital Inc. CT’s holdings in Waste Connections were worth $499,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WCN. BlackRock Inc. raised its position in shares of Waste Connections by 82.5% during the second quarter. BlackRock Inc. now owns 5,744,080 shares of the business services provider’s stock worth $549,020,000 after acquiring an additional 2,595,817 shares during the last quarter. FMR LLC grew its stake in shares of Waste Connections by 50.3% during the first quarter. FMR LLC now owns 3,455,088 shares of the business services provider’s stock worth $306,071,000 after purchasing an additional 1,155,609 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Waste Connections by 1,018.0% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 703,287 shares of the business services provider’s stock worth $81,784,000 after purchasing an additional 640,380 shares during the period. TD Asset Management Inc. grew its stake in shares of Waste Connections by 5.9% during the first quarter. TD Asset Management Inc. now owns 5,273,487 shares of the business services provider’s stock worth $467,243,000 after purchasing an additional 291,924 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Waste Connections by 8.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,784,560 shares of the business services provider’s stock worth $266,576,000 after purchasing an additional 205,819 shares during the period. Institutional investors own 82.51% of the company’s stock.

NYSE:WCN traded down $0.13 on Monday, reaching $88.47. The company’s stock had a trading volume of 561,665 shares, compared to its average volume of 569,692. Waste Connections Inc has a 1-year low of $70.28 and a 1-year high of $97.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $23.36 billion, a PE ratio of 35.11, a PEG ratio of 2.89 and a beta of 0.19. The business’s 50-day moving average price is $91.50 and its two-hundred day moving average price is $91.27.

Waste Connections (NYSE:WCN) last posted its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts expect that Waste Connections Inc will post 2.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 12th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.72%. Waste Connections’s dividend payout ratio is currently 25.40%.

A number of brokerages recently commented on WCN. BMO Capital Markets set a $105.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine cut Waste Connections from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. Macquarie began coverage on Waste Connections in a research note on Tuesday, September 3rd. They set a “buy” rating and a $100.00 price objective for the company. Finally, Royal Bank of Canada set a $100.00 price objective on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $96.66.

In other news, VP James Little sold 10,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $89.74, for a total transaction of $897,400.00. Following the completion of the transaction, the vice president now directly owns 20,280 shares of the company’s stock, valued at $1,819,927.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael W. Harlan sold 2,038 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $91.43, for a total value of $186,334.34. Following the transaction, the director now directly owns 17,425 shares of the company’s stock, valued at $1,593,167.75. The disclosure for this sale can be found here. Insiders have sold 78,638 shares of company stock valued at $7,128,039 over the last ninety days. 0.30% of the stock is owned by insiders.

Waste Connections Company Profile

Waste Connections, Inc 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, mixed 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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