ASR Vermogensbeheer N.V. Purchases 16,395 Shares of Waste Connections, Inc. $WCN

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Waste Connections, Inc. by 74%, purchasing an additional 16,395 shares, bringing its total holdings to 38,544 shares valued at $7.2 million.
• Analysts have a favorable outlook on Waste Connections, with multiple firms issuing ratings ranging from "strong-buy" to "buy," and an average price target of $213.64.
• Waste Connections declared a quarterly dividend of $0.315 per share, resulting in an annualized dividend of $1.26 and a yield of 0.7%, with a payout ratio of 50.81%.

ASR Vermogensbeheer N.V. grew its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 74.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,544 shares of the business services provider's stock after buying an additional 16,395 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Waste Connections were worth $7,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WCN. Robeco Institutional Asset Management B.V. lifted its position in Waste Connections by 25.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 64,267 shares of the business services provider's stock valued at $12,000,000 after acquiring an additional 13,213 shares during the last quarter. USA Financial Formulas increased its position in shares of Waste Connections by 279.8% during the second quarter. USA Financial Formulas now owns 1,857 shares of the business services provider's stock worth $347,000 after purchasing an additional 1,368 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of Waste Connections during the 2nd quarter valued at $361,000. PGGM Investments boosted its position in shares of Waste Connections by 383.3% in the 2nd quarter. PGGM Investments now owns 241,155 shares of the business services provider's stock worth $45,028,000 after purchasing an additional 191,253 shares in the last quarter. Finally, Addenda Capital Inc. grew its stake in Waste Connections by 7.4% during the 2nd quarter. Addenda Capital Inc. now owns 211,014 shares of the business services provider's stock worth $39,401,000 after buying an additional 14,573 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WCN. Melius began coverage on Waste Connections in a research note on Monday, June 9th. They issued a "buy" rating for the company. Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a report on Monday, June 9th. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Citigroup dropped their target price on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 17th. Finally, CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Waste Connections has an average rating of "Buy" and an average price target of $213.64.

Waste Connections Trading Down 1.1%

Shares of Waste Connections stock opened at $173.15 on Friday. The stock has a market cap of $44.43 billion, a PE ratio of 69.82, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The firm has a fifty day moving average price of $181.42 and a 200 day moving average price of $187.43. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates 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 was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

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

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.