Portfolio Design Labs LLC Takes Position in Waste Connections, Inc. $WCN

Portfolio Design Labs LLC bought a new position in Waste Connections, Inc. (NYSE:WCN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,247 shares of the business services provider’s stock, valued at approximately $1,166,000.

Several other institutional investors have also bought and sold shares of WCN. MWA Asset Management raised its stake in Waste Connections by 1.2% during the first quarter. MWA Asset Management now owns 4,783 shares of the business services provider’s stock worth $934,000 after acquiring an additional 57 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Waste Connections by 2.1% in the 2nd quarter. Lido Advisors LLC now owns 2,949 shares of the business services provider’s stock worth $551,000 after purchasing an additional 61 shares during the last quarter. MAI Capital Management increased its position in shares of Waste Connections by 6.0% during the 1st quarter. MAI Capital Management now owns 1,116 shares of the business services provider’s stock worth $218,000 after purchasing an additional 63 shares in the last quarter. ICONIQ Capital LLC lifted its holdings in Waste Connections by 3.7% during the 1st quarter. ICONIQ Capital LLC now owns 1,897 shares of the business services provider’s stock valued at $370,000 after purchasing an additional 68 shares during the last quarter. Finally, LWM Advisory Services LLC boosted its position in Waste Connections by 2.5% in the first quarter. LWM Advisory Services LLC now owns 3,034 shares of the business services provider’s stock valued at $591,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Down 1.4%

NYSE:WCN opened at $174.15 on Tuesday. The company has a market cap of $44.56 billion, a price-to-earnings ratio of 72.56, a P/E/G ratio of 3.17 and a beta of 0.60. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average price is $172.15 and its two-hundred day moving average price is $180.99. 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 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. 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 during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm earned $1.35 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Waste Connections in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Sanford C. Bernstein assumed coverage on Waste Connections in a report on Wednesday, November 12th. They set an “outperform” rating and a $200.00 price target for the company. National Bankshares reduced their price objective on Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Finally, Citigroup decreased their target price on Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Five equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, Waste Connections presently has a consensus rating of “Buy” and an average price target of $208.32.

Insider Transactions at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the transaction, the director owned 14,883 shares of the company’s stock, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.