Sandler Capital Management increased its stake in Waste Connections Inc (NYSE:WCN) by 105.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 193,481 shares of the business services provider’s stock after acquiring an additional 99,330 shares during the period. Waste Connections makes up 1.2% of Sandler Capital Management’s investment portfolio, making the stock its 16th largest position. Sandler Capital Management’s holdings in Waste Connections were worth $14,565,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd boosted its position in shares of Waste Connections by 11.1% in the first quarter. IFM Investors Pty Ltd now owns 8,522 shares of the business services provider’s stock worth $611,000 after acquiring an additional 850 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Waste Connections by 6.4% in the second quarter. Envestnet Asset Management Inc. now owns 14,329 shares of the business services provider’s stock worth $1,079,000 after acquiring an additional 860 shares during the last quarter. BB&T Securities LLC raised its holdings in Waste Connections by 4.3% in the second quarter. BB&T Securities LLC now owns 27,554 shares of the business services provider’s stock valued at $2,074,000 after buying an additional 1,129 shares during the period. Usca Ria LLC raised its holdings in Waste Connections by 13.6% in the first quarter. Usca Ria LLC now owns 10,524 shares of the business services provider’s stock valued at $755,000 after buying an additional 1,258 shares during the period. Finally, Fred Alger Management Inc. raised its holdings in Waste Connections by 1.8% in the second quarter. Fred Alger Management Inc. now owns 72,359 shares of the business services provider’s stock valued at $5,447,000 after buying an additional 1,262 shares during the period. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on WCN. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday, May 25th. Citigroup raised their price target on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. TD Securities raised their price target on shares of Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, July 26th. BMO Capital Markets raised their price target on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Finally, Royal Bank of Canada raised their price target on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Waste Connections presently has an average rating of “Buy” and an average price target of $83.00.

In other news, Director Michael W. Harlan sold 11,900 shares of Waste Connections stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $79.30, for a total transaction of $943,670.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David Eddie sold 20,000 shares of Waste Connections stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $80.06, for a total transaction of $1,601,200.00. Following the sale, the vice president now owns 36,320 shares in the company, valued at approximately $2,907,779.20. The disclosure for this sale can be found here. Insiders have sold 38,385 shares of company stock worth $3,063,670 in the last quarter. Insiders own 0.40% of the company’s stock.

Shares of WCN traded down $0.03 during mid-day trading on Thursday, reaching $79.49. 1,932 shares of the stock traded hands, compared to its average volume of 563,998. The firm has a market capitalization of $21.14 billion, a P/E ratio of 36.78, a P/E/G ratio of 2.74 and a beta of 0.07. Waste Connections Inc has a 12-month low of $65.06 and a 12-month high of $81.36. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.60.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Tuesday, July 24th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. equities analysts expect that Waste Connections Inc will post 2.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 21st. Stockholders of record on Tuesday, August 7th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, August 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.70%. Waste Connections’s dividend payout ratio is currently 25.93%.

Waste Connections Profile

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

Further Reading: Fiduciary

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

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