Oregon Public Employees Retirement Fund raised its position in shares of Waste Connections, Inc. (NYSE:WCN) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,070 shares of the business services provider’s stock after buying an additional 6,390 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Waste Connections were worth $3,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spirit of America Management Corp NY bought a new position in Waste Connections during the first quarter valued at about $110,000. Independent Portfolio Consultants Inc. increased its position in Waste Connections by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock valued at $118,000 after buying an additional 168 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Waste Connections by 34.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,585 shares of the business services provider’s stock valued at $125,000 after buying an additional 404 shares during the last quarter. Creative Planning increased its position in Waste Connections by 223.5% in the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock valued at $154,000 after buying an additional 1,656 shares during the last quarter. Finally, Capital One National Association bought a new position in Waste Connections during the first quarter valued at about $208,000. Hedge funds and other institutional investors own 61.21% of the company’s stock.

Waste Connections, Inc. (WCN) traded down 0.86% on Friday, hitting $63.62. 491,323 shares of the stock traded hands. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 54.10 and a beta of 0.23. Waste Connections, Inc. has a 1-year low of $47.81 and a 1-year high of $67.14. The stock has a 50-day moving average price of $64.65 and a 200 day moving average price of $61.08.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.66 EPS. Waste Connections’s revenue for the quarter was up 61.6% on a year-over-year basis. On average, analysts anticipate that Waste Connections, Inc. will post $2.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.48 annualized dividend and a yield of 0.75%. Waste Connections’s payout ratio is 32.11%.

Waste Connections announced that its board has approved a stock repurchase program on Wednesday, August 2nd that allows the company to repurchase 13,180,000 shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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Several brokerages have recently weighed in on WCN. Royal Bank Of Canada lifted their target price on shares of Waste Connections from $68.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Monday, July 31st. Barclays PLC boosted their price target on shares of Waste Connections from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. TD Securities reduced their price target on shares of Waste Connections from $66.67 to $63.33 and set a “hold” rating on the stock in a research report on Friday, April 28th. Finally, Raymond James Financial, Inc. boosted their price target on shares of Waste Connections from $74.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $70.47.

In related news, insider James Little sold 3,000 shares of Waste Connections stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $64.81, for a total value of $194,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Worthing Jackman sold 30,000 shares of Waste Connections stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $65.00, for a total value of $1,950,000.00. The disclosure for this sale can be found here. Insiders sold a total of 93,900 shares of company stock valued at $6,871,801 over the last quarter. 0.68% of the stock is owned by corporate insiders.

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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