Waste Connections, Inc. (WCN) Holdings Increased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 41.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,231 shares of the business services provider’s stock after buying an additional 30,876 shares during the period. New York State Common Retirement Fund’s holdings in Waste Connections were worth $6,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Waste Connections by 59.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock worth $757,414,000 after buying an additional 4,380,232 shares during the period. Wells Fargo & Company MN raised its holdings in Waste Connections by 36.9% during the 2nd quarter. Wells Fargo & Company MN now owns 7,286,764 shares of the business services provider’s stock worth $469,413,000 after buying an additional 1,965,851 shares during the period. TD Asset Management Inc. raised its holdings in Waste Connections by 51.5% during the 2nd quarter. TD Asset Management Inc. now owns 4,815,772 shares of the business services provider’s stock worth $309,785,000 after buying an additional 1,636,317 shares during the period. Artisan Partners Limited Partnership raised its holdings in Waste Connections by 9.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,786,364 shares of the business services provider’s stock worth $308,338,000 after buying an additional 422,415 shares during the period. Finally, Findlay Park Partners LLP raised its holdings in Waste Connections by 17.5% during the 2nd quarter. Findlay Park Partners LLP now owns 4,512,567 shares of the business services provider’s stock worth $290,700,000 after buying an additional 670,650 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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In other news, CFO Worthing Jackman sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $65.00, for a total transaction of $1,950,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward E. Guillet sold 11,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $65.27, for a total value of $750,605.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,500 shares of company stock worth $4,521,285. 0.68% of the stock is currently owned by insiders.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. Waste Connections’s revenue was up 61.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share.

Waste Connections announced that its board has approved a share buyback program on Wednesday, August 2nd that allows the company to buyback 13,180,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

WCN has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on Waste Connections from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. TD Securities boosted their price objective on Waste Connections from $67.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, July 27th. Barclays PLC boosted their price objective on Waste Connections from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Royal Bank Of Canada set a $102.00 price objective on Waste Connections and gave the stock an “outperform” rating in a report on Monday, June 19th. Finally, Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $72.48.

Waste Connections Company 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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