Assenagon Asset Management S.A. Trims Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Assenagon Asset Management S.A. cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 55.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,937 shares of the business services provider’s stock after selling 140,630 shares during the period. Assenagon Asset Management S.A.’s holdings in Waste Connections were worth $20,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Hexagon Capital Partners LLC grew its position in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Asset Dedication LLC purchased a new position in shares of Waste Connections during the third quarter worth about $41,000. Pathway Financial Advisers LLC acquired a new position in Waste Connections in the 1st quarter valued at about $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections during the 2nd quarter valued at approximately $45,000. Finally, Carolinas Wealth Consulting LLC lifted its position in Waste Connections by 3,885.7% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after acquiring an additional 272 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Down 1.5 %

WCN opened at $175.80 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 2.98 and a beta of 0.72. Waste Connections, Inc. has a one year low of $126.12 and a one year high of $187.54. The business’s fifty day moving average is $182.08 and its two-hundred day moving average is $175.07.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the firm earned $1.17 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Waste Connections, Inc. will post 4.82 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is 34.13%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WCN shares. Truist Financial boosted their target price on Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and issued a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday. TD Cowen upped their price objective on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer lifted their target price on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Scotiabank initiated coverage on shares of Waste Connections in a report on Friday, October 4th. They set a “sector perform” rating and a $196.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.56.

Insider Buying and Selling

In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the sale, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Philip Rivard sold 2,300 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the transaction, the senior vice president now owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the transaction, the chief financial officer now directly owns 48,899 shares in the company, valued at $8,706,466.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,600 shares of company stock worth $3,842,550 in the last ninety days. Insiders own 0.31% of the company’s stock.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.