Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Stake in Waste Connections Inc (WCN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Stake in Waste Connections Inc (WCN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Waste Connections Inc (NYSE:WCN) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,181 shares of the business services provider’s stock after buying an additional 481 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Waste Connections were worth $2,310,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of WCN. Bank of New York Mellon Corp increased its position in shares of Waste Connections by 18.9% in the third quarter. Bank of New York Mellon Corp now owns 245,849 shares of the business services provider’s stock valued at $18,366,000 after buying an additional 39,147 shares during the period. TD Asset Management Inc. increased its position in shares of Waste Connections by 26.2% in the third quarter. TD Asset Management Inc. now owns 3,170,701 shares of the business services provider’s stock valued at $236,110,000 after buying an additional 659,014 shares during the period. Copeland Capital Management LLC increased its position in shares of Waste Connections by 59.1% in the third quarter. Copeland Capital Management LLC now owns 297,772 shares of the business services provider’s stock valued at $22,244,000 after buying an additional 110,565 shares during the period. Tygh Capital Management Inc. increased its position in shares of Waste Connections by 38.7% in the third quarter. Tygh Capital Management Inc. now owns 125,339 shares of the business services provider’s stock valued at $9,363,000 after buying an additional 34,951 shares during the period. Finally, Hanseatic Management Services Inc. increased its position in shares of Waste Connections by 13.6% in the third quarter. Hanseatic Management Services Inc. now owns 39,734 shares of the business services provider’s stock valued at $2,968,000 after buying an additional 4,770 shares during the period. Institutional investors own 85.28% of the company’s stock.

Shares of Waste Connections Inc (NYSE:WCN) traded up 0.49% on Friday, hitting $92.90. The stock had a trading volume of 261,453 shares. Waste Connections Inc has a 12 month low of $65.01 and a 12 month high of $93.81. The stock has a market cap of $16.31 billion, a P/E ratio of 71.85 and a beta of 0.26. The firm has a 50 day moving average of $88.95 and a 200 day moving average of $81.92. Waste Connections’s stock is going to split on Monday, June 19th. The 3-2 split was announced on Wednesday, April 26th. The newly created shares will be distributed to shareholders after the closing bell on Friday, June 16th.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. Waste Connections had a return on equity of 8.53% and a net margin of 5.77%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Waste Connections’s quarterly revenue was up 112.0% on a year-over-year basis. On average, equities analysts forecast that Waste Connections Inc will post $3.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Monday, May 8th. Waste Connections’s dividend payout ratio is presently 47.04%.

Several equities analysts recently weighed in on the stock. TD Securities cut their price target on shares of Waste Connections from $100.00 to $95.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Royal Bank of Canada cut their price target on shares of Waste Connections from $102.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, April 28th. Wedbush reiterated an “outperform” rating and issued a $115.00 price target (up previously from $93.00) on shares of Waste Connections in a report on Friday, April 28th. Barclays PLC reiterated a “buy” rating on shares of Waste Connections in a report on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Tuesday, April 25th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Waste Connections currently has an average rating of “Buy” and a consensus price target of $91.58.

In related news, VP David Eddie sold 2,962 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $80.24, for a total transaction of $237,670.88. Following the transaction, the vice president now owns 88,259 shares of the company’s stock, valued at $7,081,902.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ronald J. Mittelstaedt sold 9,744 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $80.22, for a total value of $781,663.68. Following the transaction, the chief executive officer now directly owns 316,575 shares in the company, valued at approximately $25,395,646.50. The disclosure for this sale can be found here. Insiders have sold 28,758 shares of company stock worth $2,307,365 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Waste Connections Company Profile

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

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