Dorsey Wright & Associates increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 52.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,993 shares of the business services provider’s stock after purchasing an additional 23,754 shares during the period. Waste Connections accounts for about 1.7% of Dorsey Wright & Associates’ holdings, making the stock its 16th biggest holding. Dorsey Wright & Associates’ holdings in Waste Connections were worth $4,445,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Waste Connections by 3.9% during the first quarter. Vanguard Group Inc. now owns 14,432,675 shares of the business services provider’s stock worth $1,273,251,000 after purchasing an additional 546,144 shares during the last quarter. JPMorgan Chase & Co. increased its position in Waste Connections by 59.4% during the second quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock worth $757,414,000 after purchasing an additional 4,380,232 shares during the last quarter. Wells Fargo & Company MN increased its position in Waste Connections by 36.9% during the second quarter. Wells Fargo & Company MN now owns 7,286,764 shares of the business services provider’s stock worth $469,413,000 after purchasing an additional 1,965,851 shares during the last quarter. TD Asset Management Inc. increased its position in Waste Connections by 51.5% during the second quarter. TD Asset Management Inc. now owns 4,815,772 shares of the business services provider’s stock worth $309,785,000 after purchasing an additional 1,636,317 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in Waste Connections by 50.1% during the second quarter. Eagle Asset Management Inc. now owns 4,215,071 shares of the business services provider’s stock worth $271,534,000 after purchasing an additional 1,406,214 shares during the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

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Several equities research analysts recently issued reports on WCN shares. Credit Suisse Group restated a “buy” rating and set a $75.00 price objective on shares of Waste Connections in a research report on Friday, June 23rd. Barclays PLC restated a “buy” rating and set a $68.00 price objective on shares of Waste Connections in a research report on Friday, June 23rd. Stifel Nicolaus raised their price objective on shares of Waste Connections from $66.50 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. BidaskClub cut shares of Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $71.48.

In other news, insider James Little sold 3,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $64.81, for a total transaction of $194,430.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Worthing Jackman sold 30,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $65.00, for a total transaction of $1,950,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,500 shares of company stock worth $4,521,285. Insiders own 0.68% of the company’s stock.

Shares of Waste Connections, Inc. (NYSE:WCN) traded down 0.46% during midday trading on Wednesday, hitting $69.05. 134,355 shares of the company’s stock were exchanged. The firm has a market cap of $18.19 billion, a PE ratio of 58.72 and a beta of 0.24. The stock’s 50-day moving average price is $65.17 and its 200 day moving average price is $62.39. Waste Connections, Inc. has a one year low of $47.81 and a one year high of $69.50.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Waste Connections had a net margin of 7.11% and a return on equity of 9.19%. The company’s revenue was up 61.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Equities research analysts forecast that Waste Connections, Inc. will post $2.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.69%. Waste Connections’s payout ratio is currently 32.11%.

Waste Connections declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback 13,180,000 outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Waste Connections Company Profile

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.

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

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