Assenagon Asset Management S.A. Purchases Shares of 4,947 Waste Connections, Inc. (NYSE:WCN)

Assenagon Asset Management S.A. purchased a new stake in Waste Connections, Inc. (NYSE:WCNGet Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,947 shares of the business services provider’s stock, valued at approximately $668,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Veriti Management LLC acquired a new stake in Waste Connections in the 3rd quarter valued at $263,000. Mirabella Financial Services LLP grew its position in shares of Waste Connections by 1.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 44,682 shares of the business services provider’s stock valued at $5,884,000 after acquiring an additional 760 shares during the period. Wipfli Financial Advisors LLC bought a new position in shares of Waste Connections in the 3rd quarter valued at about $35,000. Janney Montgomery Scott LLC grew its position in shares of Waste Connections by 2.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,325 shares of the business services provider’s stock valued at $4,909,000 after acquiring an additional 956 shares during the period. Finally, Alphinity Investment Management Pty Ltd grew its position in shares of Waste Connections by 1,392.6% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 1,865,606 shares of the business services provider’s stock valued at $252,099,000 after acquiring an additional 1,740,616 shares during the period. 85.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on WCN shares. StockNews.com started coverage on shares of Waste Connections in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 target price on shares of Waste Connections in a report on Tuesday, October 25th. Raymond James lifted their target price on shares of Waste Connections from $149.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Monday, November 7th. Royal Bank of Canada lifted their target price on shares of Waste Connections from $150.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, November 4th. Finally, Morgan Stanley reduced their target price on shares of Waste Connections from $163.00 to $158.00 and set an “overweight” rating for the company in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $151.00.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $130.59 on Tuesday. Waste Connections, Inc. has a twelve month low of $113.50 and a twelve month high of $148.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.90. The company has a 50-day simple moving average of $136.79 and a two-hundred day simple moving average of $135.77. The stock has a market capitalization of $33.59 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.43 and a beta of 0.68.

Waste Connections (NYSE:WCNGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.09. Waste Connections had a net margin of 11.59% and a return on equity of 14.10%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Analysts forecast that Waste Connections, Inc. will post 3.8 EPS for the current year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Wednesday, November 16th were given a $0.255 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This is a boost from Waste Connections’s previous quarterly dividend of $0.23. This represents a $1.02 annualized dividend and a dividend yield of 0.78%. Waste Connections’s payout ratio is presently 32.69%.

Insider Activity

In other news, SVP Eric Hansen sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $136.93, for a total value of $547,720.00. Following the completion of the transaction, the senior vice president now directly owns 6,460 shares in the company, valued at approximately $884,567.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Waste Connections Profile

(Get Rating)

Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. It offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.

Read More

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCNGet Rating).

Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.