M&T Bank Corp reduced its position in shares of Waste Connections, Inc. (NYSE:WCN) by 16.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,882 shares of the business services provider’s stock after selling 2,179 shares during the period. M&T Bank Corp’s holdings in Waste Connections were worth $700,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Waste Connections by 55.9% during the second quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock worth $1,449,523,000 after buying an additional 8,068,453 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 4,380,232 shares during the period. Wells Fargo & Company MN boosted its position in shares of 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 buying an additional 1,965,851 shares during the period. FMR LLC boosted its position in shares of Waste Connections by 64.3% during the second quarter. FMR LLC now owns 5,344,512 shares of the business services provider’s stock worth $344,257,000 after buying an additional 2,091,432 shares during the period. Finally, TD Asset Management Inc. boosted its position in shares of 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 buying an additional 1,636,317 shares during the period. 82.59% of the stock is owned by institutional investors.

WCN has been the subject of several recent research reports. BidaskClub cut Waste Connections from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada upped their price objective on Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 price objective on shares of Waste Connections in a research report on Tuesday, August 29th. Credit Suisse Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Waste Connections in a research report on Friday, June 23rd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $68.00 price objective on shares of Waste Connections in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $71.94.

Waste Connections, Inc. (NYSE:WCN) opened at 69.76 on Thursday. The firm has a market capitalization of $18.38 billion, a PE ratio of 59.32 and a beta of 0.23. The company’s 50-day moving average price is $67.59 and its 200 day moving average price is $63.79. Waste Connections, Inc. has a 12 month low of $47.81 and a 12 month high of $70.76.

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

Waste Connections declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 2nd that allows the company to repurchase 13,180,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

WARNING: “M&T Bank Corp Sells 2,179 Shares of Waste Connections, Inc. (WCN)” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/05/mt-bank-corp-sells-2179-shares-of-waste-connections-inc-wcn.html.

In other news, COO Darrell W. Chambliss sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $65.05, for a total value of $1,626,250.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward E. Guillet sold 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $65.27, for a total value of $750,605.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,500 shares of company stock valued at $4,521,285 in the last quarter. 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.

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN).

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

Receive News & Stock Ratings for Waste Connections Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections Inc. and related stocks with our FREE daily email newsletter.