Tokio Marine Asset Management Co. Ltd. Purchases 475 Shares of Waste Connections, Inc. (NYSE:WCN)

Tokio Marine Asset Management Co. Ltd. grew its position in Waste Connections, Inc. (NYSE:WCN) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,174 shares of the business services provider’s stock after acquiring an additional 475 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Waste Connections were worth $1,283,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versor Investments LP grew its position in Waste Connections by 75.1% in the 3rd quarter. Versor Investments LP now owns 8,221 shares of the business services provider’s stock valued at $1,470,000 after acquiring an additional 3,527 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Waste Connections by 65.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 3,034 shares of the business services provider’s stock worth $543,000 after purchasing an additional 1,202 shares during the last quarter. California State Teachers Retirement System increased its stake in Waste Connections by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 317,220 shares of the business services provider’s stock worth $54,565,000 after buying an additional 3,106 shares during the period. Gradient Investments LLC lifted its holdings in Waste Connections by 11.0% during the 2nd quarter. Gradient Investments LLC now owns 65,052 shares of the business services provider’s stock valued at $11,408,000 after buying an additional 6,432 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Waste Connections in the 1st quarter valued at about $1,319,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN opened at $183.50 on Friday. Waste Connections, Inc. has a 12 month low of $130.33 and a 12 month high of $188.30. The stock has a fifty day moving average price of $180.81 and a 200-day moving average price of $176.60. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $47.35 billion, a PE ratio of 50.41, a P/E/G ratio of 3.13 and a beta of 0.72.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.43% and a net margin of 10.81%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the business posted $1.17 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Waste Connections, Inc. will post 4.84 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date was Thursday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a yield of 0.69%. Waste Connections’s dividend payout ratio (DPR) is 34.62%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of Waste Connections from $198.00 to $196.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, October 25th. TD Cowen increased their price target on Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, CIBC upped their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.56.

Waste Connections Company Profile

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.