Bank of New York Mellon Corp Raises Holdings in Waste Connections Inc (WCN)

Bank of New York Mellon Corp raised its stake in shares of Waste Connections Inc (NYSE:WCN) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 337,685 shares of the business services provider’s stock after buying an additional 2,539 shares during the period. Bank of New York Mellon Corp owned about 0.13% of Waste Connections worth $25,420,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Waste Connections by 1.5% in the 1st quarter. JPMorgan Chase & Co. now owns 9,873,222 shares of the business services provider’s stock valued at $708,306,000 after purchasing an additional 147,543 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Waste Connections in the 2nd quarter valued at $3,255,000. TCW Group Inc. lifted its stake in shares of Waste Connections by 0.9% in the 1st quarter. TCW Group Inc. now owns 1,164,657 shares of the business services provider’s stock valued at $83,552,000 after purchasing an additional 10,756 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its stake in shares of Waste Connections by 25.7% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 872,844 shares of the business services provider’s stock valued at $62,586,000 after purchasing an additional 178,325 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in shares of Waste Connections by 1,918.9% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 522,742 shares of the business services provider’s stock valued at $37,481,000 after purchasing an additional 496,850 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

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

In related news, COO Darrell W. Chambliss sold 6,485 shares of Waste Connections stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total value of $518,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael W. Harlan sold 11,900 shares of Waste Connections stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $79.30, for a total transaction of $943,670.00. The disclosure for this sale can be found here. Insiders sold a total of 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 opened at $79.27 on Friday. The firm has a market capitalization of $21.14 billion, a P/E ratio of 36.70, a PEG ratio of 2.74 and a beta of 0.07. Waste Connections Inc has a one year low of $65.06 and a one year high of $81.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.60.

Waste Connections (NYSE:WCN) last announced its earnings results on Tuesday, July 24th. The business services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate 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 EPS. research analysts expect that Waste Connections Inc will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 21st. Investors of record on Tuesday, August 7th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $0.56 annualized dividend and a yield of 0.71%. Waste Connections’s dividend payout ratio (DPR) is presently 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.

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

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