Waste Connections (WCN) Exceeded Expectations in Q3

TimesSquare Capital Management, an equity investment management company, released its “U.S. FOCUS Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -2.78% (net), compared to -0.65% return for the Russell Midcap Growth Index. Macroeconomic pressures led the strategy to underperform relative to the benchmark in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Waste Connections, Inc. (NYSE:WCN) in its Q3 2022 investor letter. Headquartered in Woodbridge, Canada, Waste Connections, Inc. (NYSE:WCN) provides non-hazardous waste management services. On December 27, 2022, Waste Connections, Inc. (NYSE:WCN) stock closed at $133.88 per share. One-month return of Waste Connections, Inc. (NYSE:WCN) was -7.35%, and its shares lost 1.67% of their value over the last 52 weeks. Waste Connections, Inc. (NYSE:WCN) has a market capitalization of $34.434 billion.

TimesSquare Capital made the following comment about Waste Connections, Inc. (NYSE:WCN)  in its Q3 2022 investor letter:

“Waste Connections, Inc. (NYSE:WCN) provides non-hazardous waste collection, transfer, and resource recovery services in the U.S. and Canada. Their shares rose 9% after topping second quarter estimates and raising forward guidance. This was driven by better-than-expected solid waste pricing and robust growth in the E&P waste business for oil exploration companies.”

15 biggest waste management companies in the world

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Waste Connections, Inc. (NYSE:WCN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Waste Connections, Inc. (NYSE:WCN) at the end of the third quarter, which was 34 in the previous quarter.

We discussed Waste Connections, Inc. (NYSE:WCN) in another article and shared list of best recycling stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.