D. E. Shaw & Co. Inc. Boosts Stake in Waste Connections, Inc. (NYSE:WCN)

D. E. Shaw & Co. Inc. raised its holdings in Waste Connections, Inc. (NYSE:WCN) by 21.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 501,558 shares of the business services provider’s stock after acquiring an additional 89,068 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Waste Connections were worth $54,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC raised its holdings in Waste Connections by 1.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 5,415 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 85 shares during the last quarter. Carderock Capital Management Inc. raised its holdings in Waste Connections by 0.6% in the 1st quarter. Carderock Capital Management Inc. now owns 21,971 shares of the business services provider’s stock valued at $2,372,000 after acquiring an additional 121 shares during the last quarter. Truvestments Capital LLC raised its holdings in Waste Connections by 30.8% in the 4th quarter. Truvestments Capital LLC now owns 693 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 163 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Waste Connections by 0.9% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 19,090 shares of the business services provider’s stock worth $2,061,000 after buying an additional 167 shares during the last quarter. Finally, First Mercantile Trust Co. increased its holdings in shares of Waste Connections by 12.2% during the 1st quarter. First Mercantile Trust Co. now owns 1,550 shares of the business services provider’s stock worth $167,000 after buying an additional 168 shares during the last quarter. Institutional investors own 79.92% of the company’s stock.

A number of analysts have recently commented on WCN shares. The Goldman Sachs Group started coverage on Waste Connections in a report on Wednesday, April 7th. They set a “buy” rating and a $124.00 price objective for the company. Raymond James upped their price target on shares of Waste Connections from $132.00 to $136.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 30th. Morgan Stanley upped their price target on shares of Waste Connections from $131.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. KeyCorp upped their price target on shares of Waste Connections from $115.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Waste Connections from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, May 3rd. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $125.75.

In other Waste Connections news, VP Patrick James Shea sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $120.35, for a total value of $1,323,850.00. Following the sale, the vice president now owns 16,620 shares in the company, valued at $2,000,217. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan Netherton sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $120.33, for a total transaction of $300,825.00. Following the completion of the sale, the vice president now owns 6,101 shares in the company, valued at approximately $734,133.33. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

WCN opened at $124.18 on Thursday. The firm has a market capitalization of $32.37 billion, a price-to-earnings ratio of 45.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.71. Waste Connections, Inc. has a fifty-two week low of $97.02 and a fifty-two week high of $124.95. The stock’s 50-day simple moving average is $120.97. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.67.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Tuesday, April 27th. The business services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. Waste Connections had a net margin of 4.04% and a return on equity of 10.54%. Waste Connections’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities analysts anticipate that Waste Connections, Inc. will post 3.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 26th. Investors of record on Wednesday, May 12th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, May 11th. This represents a $0.82 annualized dividend and a yield of 0.66%. Waste Connections’s dividend payout ratio (DPR) is 12.88%.

About Waste Connections

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through five segments: Southern, Western, Eastern, Canada, Central, and Corporate. 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, mixed 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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