Waste Connections, Inc. $WCN Shares Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Waste Connections by 2.7%, acquiring an additional 100,716 shares, bringing its total ownership to approximately $754 million.
• Waste Connections recently declared a $0.315 quarterly dividend, amounting to an annualized yield of 0.7%, with a payout ratio of 50.81%.
• The company's stock has a current market cap of $48.17 billion and reported a net margin of 6.97%, with revenues for the last quarter reaching $2.41 billion.

1832 Asset Management L.P. increased its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,863,120 shares of the business services provider's stock after purchasing an additional 100,716 shares during the period. Waste Connections makes up about 0.7% of 1832 Asset Management L.P.'s investment portfolio, making the stock its 17th largest position. 1832 Asset Management L.P. owned about 1.50% of Waste Connections worth $754,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WCN. Vanguard Group Inc. raised its position in Waste Connections by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock valued at $5,901,049,000 after purchasing an additional 954,242 shares during the period. WCM Investment Management LLC raised its holdings in Waste Connections by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 6,383,780 shares of the business services provider's stock valued at $1,230,984,000 after buying an additional 18,400 shares during the period. Price T Rowe Associates Inc. MD increased its position in Waste Connections by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,736,179 shares of the business services provider's stock valued at $984,214,000 after acquiring an additional 150,683 shares during the last quarter. Mackenzie Financial Corp increased its position in Waste Connections by 5.8% during the first quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider's stock valued at $892,023,000 after acquiring an additional 250,684 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Waste Connections by 3.3% during the 1st quarter. TD Asset Management Inc now owns 3,819,259 shares of the business services provider's stock worth $744,420,000 after purchasing an additional 120,752 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on WCN. Raymond James Financial decreased their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research note on Tuesday, July 22nd. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Royal Bank Of Canada reduced their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Melius started coverage on shares of Waste Connections in a report on Monday, June 9th. They issued a "buy" rating on the stock. Finally, Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price objective for the company in a report on Monday, June 9th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Performance

WCN stock traded down $2.4190 during trading on Monday, reaching $182.3610. The company had a trading volume of 897,977 shares, compared to its average volume of 1,128,747. The company has a market cap of $47.12 billion, a price-to-earnings ratio of 73.53, a price-to-earnings-growth ratio of 3.33 and a beta of 0.58. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a 50-day simple moving average of $185.49 and a 200-day simple moving average of $189.58.

Waste Connections (NYSE:WCN - Get Free Report) last posted 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. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

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