Waste Connections, Inc. $WCN Stock Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its Waste Connections stake by 4.4% in the fourth quarter, bringing its holdings to 253,851 shares worth about $44.2 million. Several other institutional investors also raised their positions, and hedge funds and institutions now own 86.09% of the stock.
• Waste Connections reported Q1 earnings of $1.23 per share, topping analyst expectations by $0.04, while revenue came in at $2.33 billion versus estimates of $2.50 billion. Revenue still rose 6.4% year over year, and analysts currently expect full-year EPS of 5.5.
• The company declared a quarterly dividend of $0.35 per share, payable May 21, implying an annualized yield of 0.9%. Meanwhile, analysts remain broadly positive, with a consensus Buy rating and an average price target of $203.35.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,851 shares of the business services provider's stock after purchasing an additional 10,764 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Waste Connections worth $44,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in shares of Waste Connections by 10.6% during the 4th quarter. QRG Capital Management Inc. now owns 15,565 shares of the business services provider's stock worth $2,730,000 after acquiring an additional 1,498 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Waste Connections by 4.9% during the 4th quarter. Truist Financial Corp now owns 30,750 shares of the business services provider's stock worth $5,392,000 after acquiring an additional 1,438 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Waste Connections by 28.9% during the 4th quarter. Benjamin Edwards Inc. now owns 9,685 shares of the business services provider's stock worth $1,701,000 after acquiring an additional 2,173 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Waste Connections by 109.0% during the 4th quarter. Fifth Third Bancorp now owns 395 shares of the business services provider's stock worth $69,000 after acquiring an additional 206 shares in the last quarter. Finally, Danske Bank A S boosted its stake in shares of Waste Connections by 9.2% during the 4th quarter. Danske Bank A S now owns 204,483 shares of the business services provider's stock worth $35,858,000 after acquiring an additional 17,247 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

WCN opened at $151.85 on Friday. The firm has a market capitalization of $38.76 billion, a P/E ratio of 37.04, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55. The stock's 50 day moving average price is $163.67 and its two-hundred day moving average price is $168.18. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 12-month low of $151.61 and a 12-month high of $198.00.

Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.04. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The company's revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. On average, equities analysts forecast that Waste Connections, Inc. will post 5.5 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, May 21st. Shareholders of record on Wednesday, May 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is 34.15%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen decreased their price target on Waste Connections from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, February 13th. BMO Capital Markets reiterated an "outperform" rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $211.00 price target on shares of Waste Connections in a research note on Thursday, April 23rd. Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an "overweight" rating in a research note on Friday, February 13th. Finally, Stifel Nicolaus set a $213.00 price target on Waste Connections and gave the stock a "buy" rating in a research note on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $203.35.

Insider Buying and Selling

In other Waste Connections news, VP James Little sold 2,605 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the sale, the vice president owned 34,395 shares of the company's stock, valued at $5,640,092.10. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eric Hansen sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president directly owned 13,350 shares in the company, valued at $2,200,347. This trade represents a 31.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company's stock.

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.

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