TimesSquare Capital Management LLC Reduces Position in Waste Connections, Inc. $WCN

TimesSquare Capital Management LLC cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 38.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 160,296 shares of the business services provider’s stock after selling 101,984 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Waste Connections were worth $28,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. City Holding Co. purchased a new stake in shares of Waste Connections during the fourth quarter valued at $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the third quarter valued at $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Waste Connections during the third quarter valued at $30,000. Greykasell Wealth Strategies Inc. boosted its position in shares of Waste Connections by 555.2% during the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. Finally, Entrust Financial LLC purchased a new stake in shares of Waste Connections during the fourth quarter valued at $37,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Trading Up 1.5%

Shares of NYSE:WCN opened at $159.01 on Tuesday. The stock has a market capitalization of $40.58 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 2.78 and a beta of 0.55. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s 50-day simple moving average is $161.33 and its two-hundred day simple moving average is $167.12. Waste Connections, Inc. has a 52-week low of $148.84 and a 52-week high of $198.00.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.13 earnings per share. Analysts expect that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is 34.15%.

Insider Transactions at Waste Connections

In other news, VP James Little sold 2,605 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Hansen sold 6,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the transaction, the senior vice president directly owned 13,350 shares in the company, valued at $2,200,347. This trade represents a 31.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WCN shares. Barclays set a $180.00 price objective on Waste Connections and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Morgan Stanley set a $205.00 target price on Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $203.35.

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.