Assenagon Asset Management S.A. Buys 87,569 Shares of Waste Connections, Inc. $WCN

Assenagon Asset Management S.A. boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 823.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 98,207 shares of the business services provider’s stock after purchasing an additional 87,569 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Waste Connections were worth $15,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management increased its position in shares of Waste Connections by 2.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock worth $533,000 after purchasing an additional 64 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after acquiring an additional 64 shares in the last quarter. WPG Advisers LLC grew its position in Waste Connections by 7.7% during the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after acquiring an additional 66 shares during the last quarter. RDA Financial Network grew its position in Waste Connections by 2.8% during the 4th quarter. RDA Financial Network now owns 2,459 shares of the business services provider’s stock worth $431,000 after acquiring an additional 67 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Waste Connections by 12.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 67 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Insider Transactions at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the transaction, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Little sold 2,605 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $163.98, for a total transaction of $427,167.90. Following the completion of the transaction, the vice president directly owned 34,395 shares in the company, valued at $5,640,092.10. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 17,605 shares of company stock valued at $2,822,923. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WCN. Wolfe Research initiated coverage on Waste Connections in a research report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Waste Connections from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Barclays set a $180.00 target price on Waste Connections and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $218.00 price target (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Three 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 presently has an average rating of “Moderate Buy” and an average target price of $202.84.

Waste Connections Stock Up 1.1%

NYSE:WCN opened at $168.07 on Friday. The company has a market cap of $42.64 billion, a price-to-earnings ratio of 40.99, a P/E/G ratio of 2.98 and a beta of 0.51. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day moving average price is $156.83 and its two-hundred day moving average price is $164.04. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.91.

Waste Connections (NYSE:WCN) last released its earnings results 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. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. On average, analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is currently 34.15%.

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.