Jain Global LLC Takes $7.36 Million Position in Waste Connections, Inc. $WCN

Jain Global LLC acquired a new stake in Waste Connections, Inc. (NYSE:WCN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,877 shares of the business services provider’s stock, valued at approximately $7,362,000.

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. lifted its position in shares of Waste Connections by 555.2% in 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 bought a new position in shares of Waste Connections during the second quarter valued at approximately $39,000. Caldwell Trust Co bought a new position in shares of Waste Connections during the second quarter valued at approximately $49,000. Finally, TD Private Client Wealth LLC increased its holdings in Waste Connections by 479.3% during the third 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.

Waste Connections Trading Up 0.4%

Shares of NYSE:WCN opened at $167.18 on Tuesday. The business’s 50-day moving average is $167.51 and its 200 day moving average is $171.66. Waste Connections, Inc. has a 1 year low of $155.65 and a 1 year high of $201.66. The firm has a market capitalization of $42.74 billion, a P/E ratio of 40.09, a P/E/G ratio of 2.86 and a beta of 0.62. 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 (NYSE:WCN) last issued its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share 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 business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $1.16 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, February 25th. Waste Connections’s dividend payout ratio (DPR) is presently 33.57%.

Wall Street Analyst Weigh In

WCN has been the subject of a number of analyst reports. UBS Group set a $205.00 target price on Waste Connections in a report on Monday, January 5th. The Goldman Sachs Group began coverage on Waste Connections in a report on Monday, November 24th. They issued a “buy” rating and a $202.00 price target on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $205.00 price target (up from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Scotiabank set a $197.00 price objective on Waste Connections and gave the stock a “sector outperform” rating in a research note on Friday, February 13th. Finally, Citigroup reaffirmed a “neutral” rating and set a $183.00 price objective (down from $196.00) on shares of Waste Connections in a research report on Friday, January 16th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $203.52.

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.