Waste Connections, Inc. $WCN Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 6.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,464 shares of the business services provider’s stock after selling 3,583 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Waste Connections were worth $9,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC increased its holdings in Waste Connections by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider’s stock valued at $249,000 after buying an additional 56 shares in the last quarter. MWA Asset Management increased its holdings in Waste Connections by 1.2% in the first quarter. MWA Asset Management now owns 4,783 shares of the business services provider’s stock valued at $934,000 after buying an additional 57 shares in the last quarter. MAI Capital Management increased its holdings in Waste Connections by 6.0% in the first quarter. MAI Capital Management now owns 1,116 shares of the business services provider’s stock valued at $218,000 after buying an additional 63 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Waste Connections by 29.2% in the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider’s stock valued at $55,000 after buying an additional 64 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Waste Connections by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,289 shares of the business services provider’s stock valued at $447,000 after buying an additional 66 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

NYSE:WCN opened at $176.76 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $45.36 billion, a price-to-earnings ratio of 73.65, a PEG ratio of 3.25 and a beta of 0.62. The company’s 50-day moving average is $176.95 and its two-hundred day moving average is $185.40. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66.

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

Waste Connections Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WCN. Scotiabank reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Waste Connections in a report on Thursday. Stifel Nicolaus cut their price objective on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a report on Thursday. CIBC reissued an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Royal Bank Of Canada cut their target price on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Finally, Raymond James Financial set a $213.00 target price on shares of Waste Connections and gave the stock a “strong-buy” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Waste Connections presently has a consensus rating of “Buy” and an average target price of $210.63.

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.