Waste Connections, Inc. $WCN Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 427,573 shares of the business services provider’s stock after selling 10,425 shares during the quarter. Waste Connections accounts for about 2.1% of Mufg Securities Canada LTD.’s portfolio, making the stock its 18th largest holding. Mufg Securities Canada LTD.’s holdings in Waste Connections were worth $75,158,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Asset Dedication LLC purchased a new position in shares of Waste Connections during the second quarter worth $28,000. Greykasell Wealth Strategies Inc. grew its position in Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares during the period. AlphaCore Capital LLC acquired a new stake in Waste Connections during the 2nd quarter worth about $39,000. Caldwell Trust Co purchased a new position in shares of Waste Connections during the 2nd quarter valued at about $49,000. Finally, TD Private Client Wealth LLC lifted 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 valued at $59,000 after buying 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

Several analysts recently commented on WCN shares. JPMorgan Chase & Co. dropped their target price on Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. The Goldman Sachs Group began coverage on shares of Waste Connections in a report on Monday, November 24th. They set a “buy” rating and a $202.00 target price for the company. Citigroup reissued a “neutral” rating and set a $183.00 price target (down from $196.00) on shares of Waste Connections in a report on Friday, January 16th. Finally, Scotiabank set a $197.00 price target on shares of Waste Connections and gave the company a “sector outperform” rating in a research report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $203.75.

Waste Connections Stock Up 1.6%

WCN stock opened at $172.06 on Friday. Waste Connections, Inc. has a 52 week low of $155.65 and a 52 week high of $201.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.07. The firm has a 50-day simple moving average of $169.16 and a 200-day simple moving average of $172.94. The stock has a market capitalization of $43.99 billion, a P/E ratio of 41.26, a P/E/G ratio of 2.96 and a beta of 0.62.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Waste Connections had a return on equity of 16.25% and a net margin of 11.37%.The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the firm posted $1.16 EPS. Waste Connections’s revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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