Jain Global LLC Makes New Investment in Waste Connections, Inc. $WCN

Jain Global LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 41,877 shares of the business services provider’s stock, valued at approximately $7,362,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WCN. Holocene Advisors LP purchased a new stake in Waste Connections during the third quarter valued at $4,650,000. Gotham Asset Management LLC lifted its position in Waste Connections by 4.2% during the third quarter. Gotham Asset Management LLC now owns 31,039 shares of the business services provider’s stock valued at $5,457,000 after purchasing an additional 1,248 shares during the last quarter. Delta Global Management LP grew its stake in shares of Waste Connections by 13.1% in the 3rd quarter. Delta Global Management LP now owns 14,370 shares of the business services provider’s stock worth $2,526,000 after buying an additional 1,669 shares in the last quarter. Chevy Chase Trust Holdings LLC bought a new stake in shares of Waste Connections in the 3rd quarter worth about $262,000. Finally, Centiva Capital LP increased its holdings in shares of Waste Connections by 85.6% in the 3rd quarter. Centiva Capital LP now owns 3,904 shares of the business services provider’s stock worth $686,000 after buying an additional 1,800 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Up 0.4%

WCN stock opened at $167.18 on Tuesday. Waste Connections, Inc. has a 12 month low of $155.65 and a 12 month high of $201.66. The firm’s 50-day moving average is $167.51 and its 200 day moving average is $171.66. The company has a market capitalization of $42.74 billion, a PE ratio of 40.09, a P/E/G ratio of 2.86 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 EPS. On average, research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is 33.57%.

Analysts Set New Price Targets

A number of brokerages recently commented on WCN. UBS Group set a $205.00 price target on shares of Waste Connections in a report on Monday, January 5th. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. lowered their price objective on Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. The Goldman Sachs Group started coverage on Waste Connections in a report on Monday, November 24th. They issued a “buy” rating and a $202.00 target price for the company. Finally, Canadian Imperial Bank of Commerce set a $208.00 price target on shares of Waste Connections in a research note on Thursday, January 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $203.52.

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.