1,161,217 Shares in Waste Connections, Inc. $WCN Bought by Stockbridge Partners LLC

Stockbridge Partners LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN) during the 2nd quarter, HoldingsChannel reports. The firm purchased 1,161,217 shares of the business services provider’s stock, valued at approximately $193,563,000. Waste Connections comprises approximately 4.1% of Stockbridge Partners LLC’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth about $26,000. Group One Trading LLC bought a new stake in shares of Waste Connections during the 2nd quarter valued at about $30,000. Whipplewood Advisors LLC increased its position in shares of Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after buying an additional 175 shares during the period. Transamerica Financial Advisors LLC increased its position in shares of Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after buying an additional 135 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Waste Connections in the fourth quarter worth about $36,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

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 in the company, valued at $1,995,119.32. This represents a 19.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jason Craft sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 14,311 shares of company stock valued at $2,303,997. 0.27% of the stock is owned by company insiders.

Waste Connections Stock Down 0.2%

Shares of Waste Connections stock opened at $168.98 on Tuesday. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $185.33. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 2.91 and a beta of 0.48. The company has a 50-day moving average of $166.82 and a 200 day moving average of $163.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66.

Waste Connections (NYSE:WCN) last posted 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%. Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.62 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 6th. Waste Connections’s payout ratio is currently 33.73%.

Analyst Ratings Changes

WCN has been the subject of several research analyst reports. UBS Group restated a “neutral” rating and issued a $176.00 price objective (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. TD Cowen reissued a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research report on Friday, August 7th. JPMorgan Chase & Co. lowered their target price on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, Citigroup lifted their price target on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and an average target price of $200.89.

Waste Connections Company Profile

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.