Mitsubishi UFJ Asset Management Co. Ltd. Acquires 17,943 Shares of Waste Connections, Inc. $WCN

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,087 shares of the business services provider’s stock after purchasing an additional 17,943 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Waste Connections worth $42,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Asset Dedication LLC purchased a new stake in Waste Connections during the second quarter worth about $28,000. Greykasell Wealth Strategies Inc. grew its position in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares during the period. AlphaCore Capital LLC bought a new position in shares of Waste Connections during the 2nd quarter valued at approximately $39,000. Caldwell Trust Co purchased a new stake in shares of Waste Connections during the 2nd quarter worth approximately $49,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of Waste Connections by 479.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock worth $59,000 after purchasing an additional 278 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WCN has been the subject of several research reports. Canadian Imperial Bank of Commerce set a $208.00 price objective on Waste Connections in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft set a $212.00 price target on Waste Connections in a research note on Friday, February 13th. Oppenheimer restated an “outperform” rating and issued a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Barclays set a $176.00 target price on shares of Waste Connections and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Finally, The Goldman Sachs Group began coverage on shares of Waste Connections in a research report on Monday, November 24th. They issued a “buy” rating and a $202.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $203.75.

Waste Connections Stock Performance

NYSE WCN opened at $172.06 on Friday. The company’s 50 day simple moving average is $169.16 and its two-hundred day simple moving average is $172.94. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The stock has a market capitalization of $43.99 billion, a PE ratio of 41.26, a P/E/G ratio of 2.96 and a beta of 0.62.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. Analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, February 25th. Waste Connections’s dividend payout ratio (DPR) is 33.57%.

Waste Connections Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.