Bank of Nova Scotia Trust Co. Boosts Stock Position in Waste Connections, Inc. $WCN

Bank of Nova Scotia Trust Co. grew its holdings in Waste Connections, Inc. (NYSE:WCN) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,219 shares of the business services provider’s stock after purchasing an additional 2,206 shares during the period. Waste Connections comprises approximately 2.1% of Bank of Nova Scotia Trust Co.’s holdings, making the stock its 13th largest holding. Bank of Nova Scotia Trust Co.’s holdings in Waste Connections were worth $21,327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WCN. AlphaCore Capital LLC bought a new position in shares of Waste Connections in the second quarter worth about $39,000. Trust Co. of Toledo NA OH purchased a new stake in Waste Connections in the 2nd quarter valued at about $51,000. Marshall & Sullivan Inc. WA bought a new position in Waste Connections in the 2nd quarter worth about $70,000. Valley National Advisers Inc. grew its stake in Waste Connections by 83.3% in the 2nd quarter. Valley National Advisers Inc. now owns 396 shares of the business services provider’s stock worth $73,000 after acquiring an additional 180 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Waste Connections during the first quarter worth approximately $87,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Up 0.3%

WCN opened at $176.95 on Friday. 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 firm has a market cap of $45.27 billion, a price-to-earnings ratio of 73.73, a PEG ratio of 3.17 and a beta of 0.60. Waste Connections, Inc. has a 12 month low of $163.27 and a 12 month high of $201.66. The stock has a fifty day moving average price of $172.07 and a 200-day moving average price of $181.24.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, beating 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 company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company earned $1.35 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

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

Insider Activity at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 14,883 shares in the company, valued at $2,596,190.52. The trade was a 37.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial set a $213.00 price target on Waste Connections and gave the company a “strong-buy” rating in a report on Monday, October 6th. 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 report on Tuesday, October 7th. Citigroup dropped their price target on Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. The Goldman Sachs Group began coverage on Waste Connections in a report on Monday. They issued a “buy” rating and a $202.00 price objective for the company. Finally, Barclays reaffirmed a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Waste Connections has an average rating of “Buy” and an average price target of $208.32.

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.