44,722 Waste Connections, Inc. $WCN Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Waste Connections stake by 44.8% in the third quarter, selling 44,722 shares and retaining 55,086 shares valued at approximately $8.48 million. Institutional investors collectively own 86.09% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $198.61. Recent targets range from $175 to $204, reflecting both upgrades and reductions.
• Waste Connections exceeded quarterly expectations, reporting $1.50 in EPS and $2.56 billion in revenue, up 6.4% year over year. The company also pays a quarterly dividend of $0.35 per share, representing a 0.8% annual yield.

Assenagon Asset Management S.A. cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 44.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,086 shares of the business services provider's stock after selling 44,722 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Waste Connections were worth $8,479,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Waste Connections by 1.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider's stock valued at $701,000 after acquiring an additional 65 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Waste Connections by 2.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,030 shares of the business services provider's stock worth $838,000 after purchasing an additional 99 shares during the last quarter. Athena Wealth Management LLC boosted its holdings in shares of Waste Connections by 6.7% during the 3rd quarter. Athena Wealth Management LLC now owns 1,829 shares of the business services provider's stock worth $282,000 after purchasing an additional 115 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Waste Connections by 9.2% during the 1st quarter. Private Advisor Group LLC now owns 1,519 shares of the business services provider's stock worth $247,000 after purchasing an additional 128 shares during the last quarter. Finally, LifeGoal Investments LLC grew its position in shares of Waste Connections by 8.1% in the third quarter. LifeGoal Investments LLC now owns 1,779 shares of the business services provider's stock valued at $274,000 after purchasing an additional 133 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 subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Waste Connections from $195.00 to $180.00 and set an "overweight" rating for the company in a research report on Thursday, October 8th. Citigroup reduced their price objective on Waste Connections from $182.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, October 15th. Scotiabank set a $193.00 price objective on Waste Connections in a research note on Thursday. UBS Group raised Waste Connections from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $176.00 to $200.00 in a research note on Friday, September 18th. Finally, Wolfe Research initiated coverage on Waste Connections in a report on Tuesday, September 15th. They issued an "outperform" rating and a $204.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Waste Connections currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.61.

Insider Transactions at Waste Connections

In related news, SVP Robert Cloninger sold 2,811 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Philip Rivard sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the sale, the senior vice president owned 734 shares in the company, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Waste Connections Price Performance

WCN stock opened at $165.88 on Tuesday. The business has a fifty day moving average of $160.82 and a two-hundred day moving average of $161.36. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The stock has a market cap of $41.63 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $179.74.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%. The company 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 business earned $1.29 earnings per share. The company's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that Waste Connections, Inc. will post 5.65 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 6th. Waste Connections's dividend payout ratio (DPR) is presently 33.73%.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.

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