Calamos Wealth Management LLC Invests $2.06 Million in Waste Connections, Inc. $WCN

Key Points

• Calamos Wealth Management LLC invested $2.06 million in Waste Connections, acquiring 11,008 shares, indicating confidence in the company’s growth potential.
• Waste Connections has recently received several upgrades from analysts, with ratings of "strong-buy" and increased price targets, suggesting positive sentiment around its stock performance.
• The company reported a $1.29 earnings per share for the last quarter, surpassing analyst estimates and showing a year-over-year revenue growth of 7.1%.

Calamos Wealth Management LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,008 shares of the business services provider's stock, valued at approximately $2,055,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ramirez Asset Management Inc. lifted its holdings in shares of Waste Connections by 122.0% in the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after purchasing an additional 179 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Waste Connections by 232.3% in the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after purchasing an additional 151 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Waste Connections in the 2nd quarter valued at about $51,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Waste Connections by 29.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after purchasing an additional 64 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on WCN. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Barclays assumed coverage on Waste Connections in a research note on Friday, September 19th. They set an "equal weight" rating and a $192.00 price objective for the company. Stifel Nicolaus assumed coverage on Waste Connections in a research note on Tuesday, September 30th. They set a "buy" rating and a $221.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Waste Connections in a research note on Wednesday, October 8th. Finally, National Bankshares reduced their price objective on Waste Connections from $211.00 to $196.00 and set an "outperform" rating for the company in a research note on Tuesday, October 7th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Waste Connections presently has an average rating of "Buy" and an average price target of $210.38.

Waste Connections Stock Performance

WCN opened at $172.68 on Friday. The stock has a market cap of $44.31 billion, a P/E ratio of 69.63, a P/E/G ratio of 3.15 and a beta of 0.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The stock's 50 day simple moving average is $178.03 and its 200 day simple moving average is $185.87. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66.

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

Waste Connections Dividend Announcement

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

Waste Connections Company 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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