DNB Asset Management AS Increases Stake in Waste Connections, Inc. $WCN

DNB Asset Management AS increased its stake in Waste Connections, Inc. (NYSE:WCN) by 31.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,169 shares of the business services provider’s stock after acquiring an additional 15,919 shares during the period. DNB Asset Management AS’s holdings in Waste Connections were worth $12,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Entropy Technologies LP acquired a new position in shares of Waste Connections in the 2nd quarter valued at $2,589,000. Magnetar Financial LLC boosted its holdings in Waste Connections by 268.4% in the second quarter. Magnetar Financial LLC now owns 46,332 shares of the business services provider’s stock valued at $8,651,000 after acquiring an additional 33,757 shares during the last quarter. Swiss National Bank grew its position in Waste Connections by 7.5% during the second quarter. Swiss National Bank now owns 782,145 shares of the business services provider’s stock valued at $146,042,000 after acquiring an additional 54,400 shares during the period. Personal CFO Solutions LLC increased its stake in Waste Connections by 10.8% during the second quarter. Personal CFO Solutions LLC now owns 4,813 shares of the business services provider’s stock worth $899,000 after acquiring an additional 469 shares during the last quarter. Finally, Cumberland Partners Ltd raised its holdings in shares of Waste Connections by 49.0% in the 2nd quarter. Cumberland Partners Ltd now owns 35,960 shares of the business services provider’s stock worth $6,705,000 after purchasing an additional 11,820 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Up 1.1%

NYSE WCN opened at $175.38 on Friday. The stock has a market cap of $44.87 billion, a P/E ratio of 73.08, a PEG ratio of 3.17 and a beta of 0.60. The company’s fifty day simple moving average is $171.96 and its 200-day simple moving average is $181.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a 52 week low of $163.27 and a 52 week high of $201.66.

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

Waste Connections Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 5th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s payout ratio is 58.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays reissued a “negative” rating on shares of Waste Connections in a research report on Thursday, October 23rd. Citigroup dropped their price objective on shares of Waste Connections from $199.00 to $196.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Raymond James Financial set a $213.00 target price on shares of Waste Connections and gave the company a “strong-buy” rating in a research note on Monday, October 6th. Stifel Nicolaus decreased their price target on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, Sanford C. Bernstein began coverage on Waste Connections in a report on Wednesday, November 12th. They issued an “outperform” rating and a $200.00 price target for the company. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Waste Connections currently has a consensus rating of “Buy” and an average price target of $208.67.

Insider Buying and Selling at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the sale, the director directly owned 14,883 shares of the company’s stock, valued at approximately $2,596,190.52. This represents a 37.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

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.