UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Waste Connections, Inc. $WCN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,367,325 shares of the business services provider’s stock after purchasing an additional 100,592 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Waste Connections were worth $227,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WCN. Integrated Wealth Concepts LLC purchased a new stake in shares of Waste Connections in the first quarter valued at about $577,000. Invesco Ltd. raised its holdings in Waste Connections by 12.8% during the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock worth $40,946,000 after purchasing an additional 24,948 shares in the last quarter. First Trust Advisors LP raised its holdings in Waste Connections by 2.9% during the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock worth $4,572,000 after purchasing an additional 688 shares in the last quarter. Jump Financial LLC acquired a new stake in Waste Connections in the second quarter valued at about $2,714,000. Finally, State Street Corp lifted its position in Waste Connections by 1.0% in the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock valued at $337,708,000 after purchasing an additional 17,197 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and set a $176.00 target price (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. Citigroup raised their price target on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $199.00 price target on shares of Waste Connections in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Finally, Barclays increased their price objective on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.89.

Insider Buying and Selling

In related news, SVP Robert Michael Cloninger sold 2,811 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the sale, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is currently owned by company insiders.

Waste Connections Stock Down 0.4%

Waste Connections stock opened at $165.28 on Tuesday. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $185.33. The firm has a market capitalization of $41.58 billion, a price-to-earnings ratio of 39.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.48. The stock’s fifty day moving average is $167.97 and its two-hundred day moving average is $163.01. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. Analysts predict that Waste Connections, Inc. will post 5.62 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.35 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is currently 33.73%.

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.