Frontier Capital Management Co. LLC raised its holdings in Waste Connections, Inc. (NYSE:WCN) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,821,340 shares of the business services provider’s stock after purchasing an additional 24,397 shares during the period. Waste Connections accounts for approximately 0.9% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 20th largest holding. Frontier Capital Management Co. LLC owned approximately 0.69% of Waste Connections worth $127,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Thompson Davis & CO. Inc. lifted its holdings in shares of Waste Connections by 55.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 559 shares in the last quarter. Independent Portfolio Consultants Inc. lifted its holdings in shares of Waste Connections by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 168 shares in the last quarter. Fieldpoint Private Securities LLC lifted its holdings in shares of Waste Connections by 50.0% in the second quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 702 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Waste Connections by 14.3% in the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 271 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Waste Connections by 223.5% in the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after purchasing an additional 1,656 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Several analysts have issued reports on WCN shares. BidaskClub downgraded shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC set a $70.00 price target on shares of Waste Connections and gave the company a “buy” rating in a report on Wednesday, July 26th. Royal Bank Of Canada upped their price objective on shares of Waste Connections from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. TD Securities upped their price objective on shares of Waste Connections from $67.00 to $73.00 and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. upped their price objective on shares of Waste Connections from $74.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $77.87.

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In other news, COO Darrell W. Chambliss sold 5,625 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total value of $399,318.75. Following the transaction, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Davis sold 700 shares of Waste Connections stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share.

Waste Connections declared that its board has approved a share buyback plan on Wednesday, August 2nd that permits the company to repurchase 13,180,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of Infinity. Waste Connections’s payout ratio is 36.36%.

Waste Connections Profile

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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