Allspring Global Investments Holdings LLC Sells 118,908 Shares of Waste Connections, Inc. $WCN

Key Points

• Allspring Global Investments Holdings LLC cut its Waste Connections position by 97.2%, selling 118,908 shares and retaining 3,488 shares valued at approximately $568,000. Institutional investors and hedge funds collectively own 86.09% of WCN.
• Waste Connections exceeded quarterly expectations with EPS of $1.50 versus the $1.35 consensus and revenue of $2.56 billion, up 6.4% year over year. The company also declared a quarterly dividend of $0.35, equivalent to a 0.8% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $202.42, compared with a recent share price of $169.12.

Allspring Global Investments Holdings LLC decreased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 97.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,488 shares of the business services provider's stock after selling 118,908 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Waste Connections were worth $568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Trium Capital LLP bought a new position in Waste Connections in the fourth quarter valued at approximately $1,995,000. Nicholas Company Inc. raised its position in shares of Waste Connections by 32.4% during the 4th quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider's stock valued at $78,756,000 after acquiring an additional 109,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Waste Connections by 161.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,114 shares of the business services provider's stock valued at $3,332,000 after purchasing an additional 11,810 shares during the period. Rathbones Group PLC lifted its stake in shares of Waste Connections by 1.2% in the 4th quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider's stock valued at $117,394,000 after purchasing an additional 7,866 shares during the period. Finally, Mirabaud Asset Management Ltd boosted its position in shares of Waste Connections by 28.9% in the 4th quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider's stock worth $10,754,000 after purchasing an additional 12,680 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $169.12 on Wednesday. The company has a market capitalization of $42.68 billion, a PE ratio of 40.75, a PEG ratio of 2.91 and a beta of 0.49. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. The stock's fifty day simple moving average is $161.80 and its 200 day simple moving average is $163.18.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The company's revenue was up 6.4% on a year-over-year basis. On average, research analysts predict that Waste Connections, Inc. will post 5.61 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio is 33.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WCN shares. Citigroup lifted their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their target price on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Royal Bank Of Canada restated an "outperform" rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Finally, Barclays increased their price target on shares of Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Waste Connections currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.42.

Key Waste Connections News

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Waste Connections received a favorable long-term assessment for its disciplined capital allocation, strong customer retention and focus on secondary and exclusive markets. Adjusted EBITDA margins expanded from 31.5% in 2023 to 33.0% in 2025, while free cash flow growth has outpaced revenue growth. Waste Connections: Turning Moderate Growth Into Exceptional Shareholder Returns
• Positive Sentiment: The company’s artificial-intelligence initiatives are beginning to support profitability. AI-assisted pricing is reportedly generating approximately $20 million in annualized EBITDA, with routing tools being tested to drive further efficiency and margin expansion. How Waste Connections Is Using AI to Expand Margins and Future Growth
• Neutral Sentiment: Barclays raised its price target for WCN from $180 to $187 but maintained an “equal weight” rating. The higher target indicates greater valuation support, although the rating suggests the firm sees limited near-term outperformance versus the broader market. Barclays Raises Waste Connections Price Target
• Neutral Sentiment: Waste Connections priced C$700 million of senior notes, including 4.200% notes due 2033 and additional notes due 2036. The financing provides capital for corporate purposes but increases interest obligations and leverage considerations. Waste Connections Announces Pricing of C$700 Million of Senior Notes
• Negative Sentiment: Analysts noted that WCN’s strong second-quarter earnings beat, higher 2026 revenue outlook and improved cash flow may already be reflected in its premium valuation. Debt levels and a high earnings multiple could limit additional upside, helping explain the muted reaction following the results. Is WCN Stock Worth Its Premium Valuation After Strong Q2 Results?

Insider Activity at Waste Connections

In related news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares in the company, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the sale, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,000 shares of company stock worth $2,395,755 over the last three months. 0.27% of the stock is currently owned by insiders.

Waste Connections Profile

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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