Waste Connections, Inc. $WCN Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 300,935 shares of the business services provider’s stock after selling 7,829 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Waste Connections were worth $56,191,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Waste Connections by 1,515.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 517 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 485 shares during the last quarter. R Squared Ltd boosted its stake in Waste Connections by 340.1% in the 2nd quarter. R Squared Ltd now owns 8,053 shares of the business services provider’s stock worth $1,504,000 after buying an additional 6,223 shares during the last quarter. Klingman & Associates LLC acquired a new stake in Waste Connections in the 2nd quarter worth about $211,000. Calamos Wealth Management LLC acquired a new stake in Waste Connections in the 2nd quarter worth about $2,055,000. Finally, Cidel Asset Management Inc. boosted its stake in Waste Connections by 3.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 136,991 shares of the business services provider’s stock worth $25,539,000 after buying an additional 4,340 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on WCN shares. 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. Stifel Nicolaus decreased their price target on Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. CIBC reissued an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Finally, Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $210.63.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $174.91 on Tuesday. The company has a market cap of $44.88 billion, a P/E ratio of 72.88, a PEG ratio of 3.25 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The business’s 50-day simple moving average is $176.75 and its 200 day simple moving average is $185.27.

Waste Connections (NYSE:WCN) last announced its earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.38 by $0.06. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 5th. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio (DPR) is 52.50%.

About Waste Connections

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.