Teacher Retirement System of Texas Buys 53,428 Shares of Waste Connections, Inc. (NYSE:WCN)

Teacher Retirement System of Texas increased its stake in Waste Connections, Inc. (NYSE:WCN) by 224.3% during the 1st quarter, Holdings Channel reports. The firm owned 77,250 shares of the business services provider’s stock after purchasing an additional 53,428 shares during the quarter. Teacher Retirement System of Texas’ holdings in Waste Connections were worth $8,341,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in Waste Connections by 140.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 113,786 shares of the business services provider’s stock worth $11,659,000 after buying an additional 66,458 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Waste Connections by 3.5% in the fourth quarter. Russell Investments Group Ltd. now owns 77,040 shares of the business services provider’s stock worth $7,885,000 after buying an additional 2,616 shares in the last quarter. Comerica Bank boosted its stake in Waste Connections by 21.2% in the first quarter. Comerica Bank now owns 22,673 shares of the business services provider’s stock worth $2,674,000 after buying an additional 3,973 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Waste Connections by 43.3% in the first quarter. Vontobel Holding Ltd. now owns 7,452 shares of the business services provider’s stock worth $805,000 after buying an additional 2,251 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Waste Connections by 1.1% in the fourth quarter. Jupiter Asset Management Ltd. now owns 207,097 shares of the business services provider’s stock worth $21,240,000 after buying an additional 2,244 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

In other news, VP Susan Netherton sold 2,500 shares of the stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $120.33, for a total transaction of $300,825.00. Following the sale, the vice president now owns 6,101 shares in the company, valued at $734,133.33. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Shares of WCN opened at $120.73 on Friday. The stock has a market capitalization of $31.47 billion, a PE ratio of 142.04, a PEG ratio of 3.09 and a beta of 0.70. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.67. Waste Connections, Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $124.95. The business has a 50-day simple moving average of $118.73.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Tuesday, April 27th. The business services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Waste Connections had a net margin of 4.04% and a return on equity of 10.54%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, sell-side analysts forecast that Waste Connections, Inc. will post 3.09 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 26th. Stockholders of record on Wednesday, May 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 11th. Waste Connections’s payout ratio is 12.88%.

Several equities analysts have recently commented on WCN shares. Royal Bank of Canada upped their price objective on shares of Waste Connections from $113.00 to $129.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Raymond James upped their price objective on shares of Waste Connections from $132.00 to $136.00 and gave the company a “strong-buy” rating in a research note on Friday, April 30th. Morgan Stanley boosted their price target on shares of Waste Connections from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Friday, April 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Waste Connections from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. Finally, The Goldman Sachs Group began coverage on shares of Waste Connections in a research report on Wednesday, April 7th. They set a “buy” rating and a $124.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $120.17.

Waste Connections Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through five segments: Southern, Western, Eastern, Canada, Central, and Corporate. 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.

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

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