Waste Connections, Inc. $WCN Shares Purchased by TD Asset Management Inc

TD Asset Management Inc increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 3.2% in the 2nd quarter, Holdings Channel reports. The firm owned 3,942,989 shares of the business services provider’s stock after purchasing an additional 123,730 shares during the period. TD Asset Management Inc’s holdings in Waste Connections were worth $735,169,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB raised its position in shares of Waste Connections by 14.6% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 4,513 shares of the business services provider’s stock worth $843,000 after purchasing an additional 575 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Waste Connections by 8.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,778 shares of the business services provider’s stock worth $892,000 after purchasing an additional 352 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Waste Connections by 1.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,719 shares of the business services provider’s stock worth $1,068,000 after purchasing an additional 77 shares during the last quarter. Montrusco Bolton Investments Inc. raised its holdings in Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock valued at $419,451,000 after acquiring an additional 732,718 shares during the last quarter. Finally, MGO One Seven LLC raised its holdings in Waste Connections by 14.2% in the 2nd quarter. MGO One Seven LLC now owns 7,291 shares of the business services provider’s stock valued at $1,361,000 after acquiring an additional 905 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WCN. Citigroup dropped their price target on shares of Waste Connections from $204.00 to $199.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. Scotiabank set a $208.00 price target on shares of Waste Connections in a research note on Friday. CIBC reissued an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Finally, Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $211.73.

Waste Connections Stock Performance

NYSE:WCN opened at $172.19 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $44.18 billion, a P/E ratio of 69.43, a PEG ratio of 3.15 and a beta of 0.62. The company has a 50 day moving average price of $179.32 and a 200 day moving average price of $186.49. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66.

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

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were issued a dividend of $0.315 per share. The ex-dividend date was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. Waste Connections’s dividend payout ratio is 50.81%.

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.