Jennison Associates LLC Decreases Stock Holdings in Waste Connections Inc (NYSE:WCN)

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Jennison Associates LLC decreased its holdings in shares of Waste Connections Inc (NYSE:WCN) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,673 shares of the business services provider’s stock after selling 1,130 shares during the period. Jennison Associates LLC’s holdings in Waste Connections were worth $6,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in Waste Connections in the 2nd quarter valued at $39,000. Cable Hill Partners LLC raised its stake in Waste Connections by 325.6% in the 1st quarter. Cable Hill Partners LLC now owns 566 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 433 shares during the last quarter. Parallel Advisors LLC raised its stake in Waste Connections by 44.7% in the 1st quarter. Parallel Advisors LLC now owns 622 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 192 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Waste Connections in the 2nd quarter valued at $66,000. Finally, Signaturefd LLC raised its stake in Waste Connections by 24.5% in the 1st quarter. Signaturefd LLC now owns 854 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Shares of WCN traded up $0.34 during midday trading on Thursday, reaching $91.54. The company had a trading volume of 15,034 shares, compared to its average volume of 772,445. Waste Connections Inc has a 1-year low of $70.28 and a 1-year high of $97.93. The stock has a market cap of $23.85 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.93 and a beta of 0.20. The firm has a 50 day simple moving average of $92.99 and a 200-day simple moving average of $90.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

Waste Connections (NYSE:WCN) last issued its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Waste Connections Inc will post 2.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 12th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, August 9th. Waste Connections’s dividend payout ratio (DPR) is presently 25.40%.

Several research firms recently commented on WCN. BMO Capital Markets set a $105.00 price objective on Waste Connections and gave the company a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer reissued a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. CIBC reissued a “market perform” rating on shares of Waste Connections in a research note on Thursday, July 18th. JPMorgan Chase & Co. began coverage on Waste Connections in a research note on Wednesday, August 7th. They issued an “overweight” rating and a $98.00 price objective for the company. Finally, Raymond James increased their price objective on Waste Connections from $105.00 to $106.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $96.40.

In other Waste Connections news, Director William J. Razzouk sold 6,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $90.29, for a total value of $541,740.00. Following the completion of the sale, the director now directly owns 13,919 shares of the company’s stock, valued at approximately $1,256,746.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 17,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $92.35, for a total value of $1,569,950.00. Following the completion of the sale, the vice president now directly owns 26,269 shares of the company’s stock, valued at $2,425,942.15. The disclosure for this sale can be found here. Insiders sold a total of 52,600 shares of company stock valued at $4,766,745 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Waste Connections Company Profile

Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

Further Reading: Retained Earnings

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

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