Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Waste Connections, Inc. $WCN

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Waste Connections, Inc. (NYSE:WCN) by 8.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 243,087 shares of the business services provider’s stock after purchasing an additional 17,943 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Waste Connections were worth $42,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC purchased a new position in Waste Connections in the second quarter worth $28,000. Greykasell Wealth Strategies Inc. raised its position in Waste Connections by 555.2% during the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. AlphaCore Capital LLC bought a new stake in Waste Connections during the second quarter worth about $39,000. Caldwell Trust Co bought a new stake in Waste Connections during the second quarter worth about $49,000. Finally, TD Private Client Wealth LLC boosted 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 in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analysts Set New Price Targets

WCN has been the topic of several recent research reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Morgan Stanley set a $205.00 price target on shares of Waste Connections and gave the company an “overweight” rating in a research report on Friday, February 13th. Barclays set a $176.00 price objective on shares of Waste Connections and gave the stock an “equal weight” rating in a report on Friday, February 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective (down from $219.00) on shares of Waste Connections in a research note on Tuesday, February 17th. Finally, UBS Group set a $205.00 target price on shares of Waste Connections in a research report on Monday, January 5th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Waste Connections currently has an average rating of “Buy” and a consensus price target of $203.75.

Waste Connections Price Performance

WCN stock opened at $172.06 on Friday. The stock has a market capitalization of $43.99 billion, a price-to-earnings ratio of 41.26, a PEG ratio of 2.96 and a beta of 0.62. The firm’s 50-day moving average price is $169.16 and its two-hundred day moving average price is $172.94. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a 12-month low of $155.65 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN) last posted its earnings results 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 last year, the firm earned $1.16 earnings per share. Waste Connections’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

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