Waste Connections Inc (WCN) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its stake in shares of Waste Connections Inc (NYSE:WCN) by 323.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,100 shares of the business services provider’s stock after purchasing an additional 97,100 shares during the quarter. Point72 Asset Management L.P.’s holdings in Waste Connections were worth $9,118,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Waste Connections during the fourth quarter worth $194,000. Timber Hill LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at about $206,000. Granite Investment Advisors LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at about $248,000. BB&T Investment Services Inc. boosted its position in shares of Waste Connections by 29.6% in the fourth quarter. BB&T Investment Services Inc. now owns 4,611 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 1,052 shares during the period. Finally, Teza Capital Management LLC boosted its position in shares of Waste Connections by 54.0% in the first quarter. Teza Capital Management LLC now owns 4,698 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 1,648 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

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Waste Connections opened at $76.09 on Tuesday, Marketbeat.com reports. The stock has a market capitalization of $20.20 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.30 and a beta of 0.18. Waste Connections Inc has a 52 week low of $63.14 and a 52 week high of $78.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.31 and a quick ratio of 1.31.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Waste Connections had a return on equity of 9.68% and a net margin of 14.68%. Waste Connections’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. sell-side analysts predict that Waste Connections Inc will post 2.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Wednesday, May 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Tuesday, May 15th. Waste Connections’s dividend payout ratio (DPR) is presently 25.93%.

WCN has been the subject of a number of recent research reports. Credit Suisse Group reissued an “outperform” rating on shares of Waste Connections in a research report on Tuesday, February 20th. Zacks Investment Research raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Monday, February 19th. Royal Bank of Canada boosted their target price on shares of Waste Connections from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, May 4th. BMO Capital Markets reissued a “buy” rating and issued a $80.00 target price (up previously from $79.00) on shares of Waste Connections in a research report on Thursday, April 5th. Finally, UBS Group initiated coverage on shares of Waste Connections in a research report on Thursday, March 15th. They issued a “buy” rating and a $91.00 target price for the company. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $80.50.

In other Waste Connections news, President Steven F. Bouck sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $76.31, for a total transaction of $763,100.00. Following the completion of the transaction, the president now owns 303,439 shares of the company’s stock, valued at $23,155,430.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Stephen Black sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $75.94, for a total value of $379,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,500 shares of company stock valued at $2,994,745. 0.40% of the stock is owned by insiders.

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.