Assetmark Inc. Boosts Stake in Waste Connections, Inc. $WCN

Assetmark Inc. raised its position in shares of Waste Connections, Inc. (NYSE:WCN) by 84.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,413 shares of the business services provider’s stock after purchasing an additional 646 shares during the period. Assetmark Inc.’s holdings in Waste Connections were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 buying an additional 954,242 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Waste Connections by 1.8% in the 2nd quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock worth $1,208,669,000 after acquiring an additional 117,939 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Waste Connections by 5.8% in the 1st quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider’s stock valued at $892,023,000 after purchasing an additional 250,684 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Waste Connections by 3.2% in the 2nd quarter. TD Asset Management Inc now owns 3,942,989 shares of the business services provider’s stock valued at $735,169,000 after purchasing an additional 123,730 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Waste Connections by 2.7% during the 1st quarter. 1832 Asset Management L.P. now owns 3,863,120 shares of the business services provider’s stock valued at $754,042,000 after purchasing an additional 100,716 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.5%

Shares of Waste Connections stock opened at $166.08 on Friday. The company’s fifty day simple moving average is $173.80 and its two-hundred day simple moving average is $183.63. Waste Connections, Inc. has a 12-month low of $164.37 and a 12-month high of $201.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. The company has a market cap of $42.52 billion, a P/E ratio of 69.20, a PEG ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company earned $1.35 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be paid a $0.35 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is 58.33%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WCN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. Oppenheimer lifted their price objective on Waste Connections from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. National Bankshares lowered their target price on Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. UBS Group set a $195.00 target price on Waste Connections and gave the company a “neutral” rating in a report on Thursday, October 23rd. Finally, Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a “strong-buy” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $210.63.

Insider Activity at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the transaction, the director owned 14,883 shares in the company, valued at $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.28% of the stock is owned by insiders.

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.