10,554 Shares in Waste Connections, Inc. $WCN Purchased by Drake & Associates LLC

Key Points

• Drake & Associates LLC has acquired 10,554 shares in Waste Connections, valued at approximately $1,971,000, enhancing the firm's stake in the waste management company.
• Institutional investors now hold 86.09% of Waste Connections' stock, with notable firms like Nuveen LLC and Vanguard Group among those increasing their investments.
• The stock has an average rating of "Buy" from analysts, with a consensus price target of $213.79, indicating positive forecasts for growth in the company's performance.

Drake & Associates LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,554 shares of the business services provider's stock, valued at approximately $1,971,000.

Other large investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Waste Connections in the first quarter valued at approximately $623,155,000. Vanguard Group Inc. grew its stake in Waste Connections by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock worth $5,901,049,000 after buying an additional 954,242 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Waste Connections by 195.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider's stock worth $224,961,000 after buying an additional 762,468 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Waste Connections by 45.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider's stock valued at $316,532,000 after buying an additional 502,986 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Waste Connections by 56.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,147,904 shares of the business services provider's stock valued at $223,779,000 after buying an additional 413,212 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Wall Street Analysts Forecast Growth

WCN has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a research report on Saturday, September 27th. Stifel Nicolaus started coverage on Waste Connections in a report on Tuesday, September 30th. They issued a "buy" rating and a $221.00 price objective for the company. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a research report on Monday, June 9th. Melius assumed coverage on Waste Connections in a research report on Monday, June 9th. They issued a "buy" rating for the company. Finally, Barclays began coverage on Waste Connections in a research note on Friday, September 19th. They issued an "equal weight" rating and a $192.00 target price for the company. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $213.79.

Waste Connections Stock Down 0.2%

Shares of NYSE WCN opened at $174.15 on Tuesday. The firm's fifty day moving average is $180.93 and its 200 day moving average is $187.19. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The company has a market cap of $44.69 billion, a price-to-earnings ratio of 70.22, a PEG ratio of 3.15 and a beta of 0.62.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were paid a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections's dividend payout ratio (DPR) is presently 50.81%.

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.

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