Truist Financial Corp Sells 172 Shares of Waste Connections, Inc. $WCN

Truist Financial Corp lowered its holdings in Waste Connections, Inc. (NYSE:WCN) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,384 shares of the business services provider’s stock after selling 172 shares during the quarter. Truist Financial Corp’s holdings in Waste Connections were worth $5,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Waste Connections in the first quarter worth $623,155,000. Vanguard Group Inc. increased its stake in shares of Waste Connections by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock worth $5,901,049,000 after acquiring an additional 954,242 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Waste Connections by 195.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock worth $224,961,000 after acquiring an additional 762,468 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Waste Connections by 45.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider’s stock worth $316,532,000 after acquiring an additional 502,986 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Waste Connections by 56.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,147,904 shares of the business services provider’s stock worth $223,779,000 after acquiring an additional 413,212 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.4%

Shares of NYSE WCN opened at $173.50 on Wednesday. The company’s 50-day simple moving average is $180.56 and its 200-day simple moving average is $187.09. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The firm has a market cap of $44.52 billion, a price-to-earnings ratio of 69.96, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. Waste Connections’s dividend payout ratio (DPR) is currently 50.81%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WCN. Barclays started coverage on shares of Waste Connections in a research note on Friday, September 19th. They issued an “equal weight” rating and a $192.00 price objective on the stock. CIBC restated an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the company a “strong-buy” rating in a research report on Monday. Royal Bank Of Canada dropped their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Finally, Stifel Nicolaus started coverage on shares of Waste Connections in a research report on Tuesday, September 30th. They set a “buy” rating and a $221.00 price target on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $212.60.

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.