Janus Henderson Group PLC Purchases 8,437 Shares of Waste Connections, Inc. $WCN

Janus Henderson Group PLC raised its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 4.2% during the first quarter, Holdings Channel.com reports. The fund owned 210,541 shares of the business services provider’s stock after buying an additional 8,437 shares during the period. Janus Henderson Group PLC’s holdings in Waste Connections were worth $34,191,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Trium Capital LLP bought a new position in Waste Connections in the 4th quarter worth approximately $1,995,000. Nicholas Company Inc. raised its position in shares of Waste Connections by 32.4% during the fourth quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock valued at $78,756,000 after buying an additional 109,950 shares during the last quarter. Rathbones Group PLC lifted its holdings in shares of Waste Connections by 1.2% in the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider’s stock worth $117,394,000 after buying an additional 7,866 shares in the last quarter. Mirabaud Asset Management Ltd lifted its holdings in shares of Waste Connections by 28.9% in the fourth quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider’s stock worth $10,754,000 after buying an additional 12,680 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Waste Connections by 16.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 60,140 shares of the business services provider’s stock worth $10,546,000 after acquiring an additional 8,363 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. TD Cowen reaffirmed a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $211.00 price target on shares of Waste Connections in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Insider Activity

In related news, SVP Robert Michael Cloninger sold 2,811 shares of Waste Connections stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. The trade was a 19.92% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 11,811 shares of company stock worth $1,887,572. Insiders own 0.27% of the company’s stock.

Waste Connections Trading Up 0.1%

Shares of WCN stock opened at $167.54 on Monday. The company has a market cap of $42.28 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.49. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $191.00. The stock’s 50 day simple moving average is $162.57 and its two-hundred day simple moving average is $163.23. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts predict that Waste Connections, Inc. will post 5.63 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s payout ratio is 33.73%.

About Waste Connections

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.