TimesSquare Capital Management LLC Sells 132,486 Shares of Waste Connections, Inc. (NYSE:WCN)

TimesSquare Capital Management LLC cut its position in shares of Waste Connections, Inc. (NYSE:WCN) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444,848 shares of the business services provider’s stock after selling 132,486 shares during the quarter. Waste Connections comprises 1.1% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. TimesSquare Capital Management LLC owned approximately 0.17% of Waste Connections worth $76,327,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC purchased a new position in Waste Connections during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in Waste Connections during the fourth quarter valued at $27,000. Global Trust Asset Management LLC purchased a new position in Waste Connections during the third quarter valued at $36,000. Sierra Ocean LLC purchased a new position in Waste Connections during the fourth quarter valued at $39,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Waste Connections in the third quarter worth $40,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Down 0.7 %

Waste Connections stock opened at $187.63 on Wednesday. The stock has a fifty day moving average of $179.46 and a 200 day moving average of $181.83. Waste Connections, Inc. has a one year low of $160.34 and a one year high of $194.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $48.42 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 3.08 and a beta of 0.77.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 6.92% and a return on equity of 15.54%. As a group, sell-side analysts predict that Waste Connections, Inc. will post 5.3 EPS for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, February 27th. Waste Connections’s dividend payout ratio is presently 52.72%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WCN. Morgan Stanley boosted their price target on Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. StockNews.com cut Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Stifel Nicolaus boosted their price target on Waste Connections from $205.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group decreased their price target on Waste Connections from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.