Comerica Bank raised its position in Waste Connections, Inc. (NYSE:WCN) by 29.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,657 shares of the business services provider’s stock after buying an additional 3,147 shares during the period. Comerica Bank’s holdings in Waste Connections were worth $1,267,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Waste Connections by 254.7% in the first quarter. BNP Paribas Arbitrage SA now owns 16,077 shares of the business services provider’s stock worth $1,418,000 after buying an additional 11,544 shares during the last quarter. Suntrust Banks Inc. raised its stake in Waste Connections by 146.8% in the first quarter. Suntrust Banks Inc. now owns 67,990 shares of the business services provider’s stock worth $5,997,000 after buying an additional 40,441 shares during the last quarter. Dorsey Wright & Associates raised its stake in Waste Connections by 9.7% in the first quarter. Dorsey Wright & Associates now owns 45,239 shares of the business services provider’s stock worth $3,991,000 after buying an additional 3,990 shares during the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in Waste Connections during the first quarter worth $242,000. Finally, Tygh Capital Management Inc. raised its stake in Waste Connections by 0.6% in the first quarter. Tygh Capital Management Inc. now owns 48,416 shares of the business services provider’s stock worth $4,271,000 after buying an additional 293 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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

Waste Connections, Inc. (NYSE:WCN) opened at 100.17 on Friday. The firm has a market cap of $17.59 billion, a P/E ratio of 77.47 and a beta of 0.20. The stock has a 50 day moving average of $94.22 and a 200-day moving average of $85.97. Waste Connections, Inc. has a 12 month low of $68.26 and a 12 month high of $100.59. Shares of Waste Connections are going to split before the market opens on Monday, June 19th. The 3-2 split was announced on Wednesday, April 26th. The newly minted shares will be issued to shareholders after the closing bell on Friday, June 16th.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 26th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Waste Connections had a net margin of 5.48% and a return on equity of 8.37%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $0.30 earnings per share. The business’s revenue was up 112.0% on a year-over-year basis. Equities research analysts predict that Waste Connections, Inc. will post $3.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, May 8th. Waste Connections’s dividend payout ratio is 56.69%.

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A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Waste Connections from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Barclays PLC reissued a “buy” rating on shares of Waste Connections in a report on Friday, April 28th. TD Securities reduced their target price on shares of Waste Connections from $66.67 to $63.33 and set a “hold” rating on the stock in a report on Friday, April 28th. Royal Bank Of Canada reduced their target price on shares of Waste Connections from $68.00 to $63.33 and set an “outperform” rating on the stock in a report on Friday, April 28th. Finally, Wedbush reissued an “outperform” rating and set a $76.67 target price (up from $62.00) on shares of Waste Connections in a report on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $61.06.

In other Waste Connections news, Director Susan Lee purchased 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $92.05 per share, with a total value of $110,460.00. Following the completion of the purchase, the director now directly owns 3,679 shares of the company’s stock, valued at approximately $338,651.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael W. Harlan sold 3,400 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $96.49, for a total value of $328,066.00. The disclosure for this sale can be found here. Insiders sold 24,400 shares of company stock worth $2,350,516 in the last 90 days. Company insiders own 0.68% of the company’s stock.

About Waste Connections

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

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