TimesSquare Capital Management LLC Trims Position in Waste Connections, Inc. (NYSE:WCN)

TimesSquare Capital Management LLC lessened its position in Waste Connections, Inc. (NYSE:WCN) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 720,729 shares of the business services provider’s stock after selling 77,003 shares during the period. Waste Connections accounts for 1.6% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. TimesSquare Capital Management LLC owned approximately 0.28% of Waste Connections worth $107,583,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Pacifica Partners Inc. bought a new position in shares of Waste Connections during the fourth quarter valued at approximately $25,000. Headinvest LLC purchased a new stake in shares of Waste Connections in the 3rd quarter worth about $36,000. Operose Advisors LLC bought a new stake in shares of Waste Connections during the 3rd quarter valued at about $40,000. Rational Advisors LLC purchased a new position in shares of Waste Connections during the third quarter valued at about $41,000. Finally, GAMMA Investing LLC bought a new position in Waste Connections in the fourth quarter worth about $61,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

WCN traded up $0.77 during trading on Thursday, hitting $166.17. The company’s stock had a trading volume of 410,636 shares, compared to its average volume of 921,620. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $173.02. The business’s 50 day simple moving average is $167.53 and its 200-day simple moving average is $153.68. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. The firm has a market cap of $42.88 billion, a PE ratio of 53.95, a P/E/G ratio of 2.67 and a beta of 0.67.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Waste Connections, Inc. will post 4.81 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be paid a $0.285 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.69%. Waste Connections’s dividend payout ratio (DPR) is presently 37.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WCN shares. JPMorgan Chase & Co. upped their target price on Waste Connections from $153.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. BMO Capital Markets raised their price objective on Waste Connections from $182.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Stifel Nicolaus increased their price target on shares of Waste Connections from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Scotiabank raised their target price on shares of Waste Connections from $146.50 to $179.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and an average price target of $179.33.

Insider Activity

In related news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total transaction of $152,591.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.