MUFG Securities EMEA plc Invests $15.79 Million in Waste Connections, Inc. $WCN

Key Points

• MUFG Securities EMEA plc disclosed a new position in Waste Connections, buying 90,000 shares valued at about $15.79 million in the fourth quarter.
• Waste Connections posted better-than-expected quarterly earnings of $1.23 per share, though revenue came in below analysts’ estimates at $2.33 billion.
• The company also returned cash to shareholders with a quarterly dividend of $0.35 per share and continues to draw mostly bullish analyst coverage, with a consensus Buy rating and average price target of $203.35.

MUFG Securities EMEA plc purchased a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 90,000 shares of the business services provider's stock, valued at approximately $15,788,000.

Several other hedge funds have also recently modified their holdings of WCN. Integrated Wealth Concepts LLC purchased a new stake in shares of Waste Connections in the 1st quarter worth approximately $577,000. Invesco Ltd. lifted its position in shares of Waste Connections by 12.8% in the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock worth $40,946,000 after purchasing an additional 24,948 shares during the period. First Trust Advisors LP lifted its position in shares of Waste Connections by 2.9% in the 2nd quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock worth $4,572,000 after purchasing an additional 688 shares during the period. Jump Financial LLC purchased a new stake in shares of Waste Connections in the 2nd quarter worth approximately $2,714,000. Finally, State Street Corp lifted its position in shares of Waste Connections by 1.0% in the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock worth $337,708,000 after purchasing an additional 17,197 shares during the period. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $149.13 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 12 month low of $148.84 and a 12 month high of $197.35. The company has a 50 day simple moving average of $158.96 and a two-hundred day simple moving average of $166.29. The stock has a market cap of $38.06 billion, a price-to-earnings ratio of 36.37, a PEG ratio of 2.65 and a beta of 0.55.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the business posted $1.13 EPS. The business's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that Waste Connections, Inc. will post 5.5 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is presently 34.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Scotiabank set a $197.00 price objective on shares of Waste Connections and gave the stock a "sector outperform" rating in a research report on Friday, February 13th. Royal Bank Of Canada reiterated an "outperform" rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Stifel Nicolaus set a $213.00 price objective on shares of Waste Connections and gave the stock a "buy" rating in a research note on Friday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Waste Connections from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Finally, Barclays set a $180.00 price objective on shares of Waste Connections and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Four investment 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 data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $203.35.

Insider Buying and Selling at Waste Connections

In related news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of Waste Connections stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares of the company's stock, valued at approximately $45,826,828.08. This represents a 19.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James Little sold 2,605 shares of Waste Connections stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $163.98, for a total value of $427,167.90. Following the transaction, the vice president owned 34,395 shares of the company's stock, valued at $5,640,092.10. The trade was a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company's stock.

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.

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