Capital Fund Management S.A. Acquires 57,945 Shares of Waste Connections, Inc. $WCN

Key Points

• Capital Fund Management S.A. increased its holdings in Waste Connections by 303.6% in Q1, owning 77,032 shares valued at $15 million.
• Waste Connections reported Q2 earnings of $1.29 per share, surpassing estimates, with revenue of $2.41 billion, a year-over-year increase of 7.1%.
• The company declared a quarterly dividend of $0.315 per share, with a 0.7% yield, expected to be paid on August 21st.

Capital Fund Management S.A. boosted its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 303.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,032 shares of the business services provider's stock after acquiring an additional 57,945 shares during the period. Capital Fund Management S.A.'s holdings in Waste Connections were worth $15,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC grew its position in shares of Waste Connections by 5.1% in the 4th quarter. NewEdge Advisors LLC now owns 8,569 shares of the business services provider's stock valued at $1,470,000 after purchasing an additional 414 shares during the period. First Trust Advisors LP boosted its holdings in shares of 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 buying an additional 5,882 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Waste Connections by 9.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 432,597 shares of the business services provider's stock worth $74,224,000 after acquiring an additional 35,689 shares in the last quarter. Natixis raised its holdings in shares of Waste Connections by 2,113.7% during the fourth quarter. Natixis now owns 9,032 shares of the business services provider's stock worth $1,550,000 after acquiring an additional 8,624 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Waste Connections by 136.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the business services provider's stock worth $950,000 after acquiring an additional 3,199 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Oppenheimer upped their price target on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. National Bank Financial upgraded shares of Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. CIBC reissued an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Finally, Raymond James Financial lowered their target price on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $215.00.

Waste Connections Stock Performance

Shares of Waste Connections stock traded down $1.7840 on Friday, hitting $184.6960. The stock had a trading volume of 805,770 shares, compared to its average volume of 1,097,258. The stock has a market cap of $47.72 billion, a price-to-earnings ratio of 74.47, a price-to-earnings-growth ratio of 3.33 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The business's 50 day moving average is $185.49 and its two-hundred day moving average is $189.57.

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 (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. Analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

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