Squarepoint Ops LLC Invests $855,000 in Waste Connections, Inc. $WCN

Squarepoint Ops LLC bought a new stake in shares of Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,581 shares of the business services provider’s stock, valued at approximately $855,000.

Several other hedge funds have also bought and sold shares of WCN. Asset Dedication LLC bought a new position in shares of Waste Connections in the second quarter worth about $28,000. AlphaCore Capital LLC purchased a new stake in Waste Connections in the 2nd quarter worth approximately $39,000. Trust Co. of Toledo NA OH purchased a new stake in Waste Connections in the 2nd quarter worth approximately $51,000. Marshall & Sullivan Inc. WA bought a new stake in Waste Connections during the 2nd quarter worth approximately $70,000. Finally, Valley National Advisers Inc. lifted its holdings in Waste Connections by 83.3% during the second quarter. Valley National Advisers Inc. now owns 396 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Insider Transactions at Waste Connections

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the sale, the director owned 14,883 shares of the company’s stock, valued at $2,596,190.52. The trade was a 37.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on WCN shares. Barclays reissued a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. Raymond James Financial set a $213.00 target price on shares of Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 price target (up previously from $215.00) on shares of Waste Connections in a research note on Wednesday, December 17th. The Goldman Sachs Group assumed coverage on Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $208.37.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $177.02 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $45.27 billion, a P/E ratio of 73.76, a P/E/G ratio of 3.47 and a beta of 0.62. The firm’s fifty day moving average is $172.23 and its two-hundred day moving average is $178.73. Waste Connections, Inc. has a 52-week low of $163.27 and a 52-week high of $201.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.38 by $0.06. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 EPS. As a group, analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio (DPR) is 58.33%.

About Waste Connections

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.