APG Asset Management N.V. Lowers Stock Position in Waste Connections, Inc. $WCN

Key Points

• APG Asset Management N.V. reduced its stake in Waste Connections, Inc. by 3.1%, now holding approximately 171,042 shares valued at $30.87 million.
• Several institutional investors, including First Trust Advisors LP and Dimensional Fund Advisors LP, increased their stakes in Waste Connections significantly during the fourth quarter.
• Waste Connections recently declared a quarterly dividend of $0.315, with an annualized yield of 0.7%, and the company has a market capitalization of $47.72 billion.

APG Asset Management N.V. reduced its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,042 shares of the business services provider's stock after selling 5,551 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Waste Connections worth $30,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of WCN. First Trust Advisors LP raised its stake in Waste Connections by 41.8% in the fourth quarter. First Trust Advisors LP now owns 19,944 shares of the business services provider's stock valued at $3,420,000 after purchasing an additional 5,882 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Waste Connections by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 432,597 shares of the business services provider's stock valued at $74,224,000 after purchasing an additional 35,689 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Waste Connections by 136.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the business services provider's stock valued at $950,000 after purchasing an additional 3,199 shares in the last quarter. MGO One Seven LLC raised its stake in Waste Connections by 130.0% in the fourth quarter. MGO One Seven LLC now owns 6,687 shares of the business services provider's stock valued at $1,147,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Waste Connections by 53.3% in the fourth quarter. Voya Investment Management LLC now owns 85,349 shares of the business services provider's stock valued at $14,644,000 after purchasing an additional 29,690 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Melius assumed coverage on shares of Waste Connections in a research note on Monday, June 9th. They set a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Melius Research raised shares of Waste Connections to a "strong-buy" rating and set a $213.00 price target on the stock in a research note on Monday, June 9th. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada decreased their price target on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Down 1.0%

Shares of Waste Connections stock opened at $184.6960 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66. The stock has a market capitalization of $47.72 billion, a price-to-earnings ratio of 74.47, a P/E/G ratio of 3.33 and a beta of 0.58. The company's 50 day moving average price is $185.49 and its 200-day moving average price is $189.57.

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

Waste Connections Announces Dividend

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

Waste Connections 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.

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