Mufg Securities Canada LTD. Sells 10,425 Shares of Waste Connections, Inc. $WCN

Mufg Securities Canada LTD. lowered its position in shares of Waste Connections, Inc. (NYSE:WCN) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 427,573 shares of the business services provider’s stock after selling 10,425 shares during the period. Waste Connections comprises approximately 2.1% of Mufg Securities Canada LTD.’s holdings, making the stock its 18th largest holding. Mufg Securities Canada LTD. owned about 0.17% of Waste Connections worth $75,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WCN. Asset Dedication LLC purchased a new position in Waste Connections during the 2nd quarter valued at about $28,000. Greykasell Wealth Strategies Inc. boosted its stake in shares of 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 purchased a new position in Waste Connections during the second quarter valued at approximately $39,000. Caldwell Trust Co purchased a new position in Waste Connections during the second quarter valued at approximately $49,000. Finally, TD Private Client Wealth LLC raised its stake in Waste Connections by 479.3% in the third quarter. TD Private Client Wealth LLC now owns 336 shares of the business services provider’s stock worth $59,000 after buying an additional 278 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Up 1.6%

WCN stock opened at $172.06 on Friday. The stock has a market capitalization of $43.99 billion, a PE ratio of 41.26, a price-to-earnings-growth ratio of 2.96 and a beta of 0.62. 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 moving average of $169.16 and a 200 day moving average of $172.94.

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

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on WCN. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $205.00 target price (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. UBS Group set a $205.00 price objective on Waste Connections in a research report on Monday, January 5th. Oppenheimer reiterated an “outperform” rating and issued a $205.00 target price (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Barclays set a $176.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Four 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. According to data from MarketBeat.com, Waste Connections has an average rating of “Buy” and an average target price of $203.75.

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.