Waste Connections, Inc. $WCN Shares Bought by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management Inc. has increased its holdings in Waste Connections, Inc. by 5.7%, now owning 46,031 shares valued at approximately $8.6 million, making it the firm's 20th largest position.
• Waste Connections recently reported quarterly earnings of $1.29 per share, surpassing analysts' expectations, with revenue of $2.41 billion, reflecting a 7.1% year-over-year increase.
• The company declared a quarterly dividend of $0.315, giving it an annual yield of approximately 0.7%, and a dividend payout ratio of 50.81%.

Carderock Capital Management Inc. boosted its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 5.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,031 shares of the business services provider's stock after buying an additional 2,489 shares during the quarter. Waste Connections accounts for approximately 2.2% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 20th largest position. Carderock Capital Management Inc.'s holdings in Waste Connections were worth $8,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in shares of Waste Connections by 18.5% during the fourth quarter. Lazard Asset Management LLC now owns 2,312 shares of the business services provider's stock worth $396,000 after purchasing an additional 361 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Waste Connections by 9.8% in the fourth quarter. Quantinno Capital Management LP now owns 7,598 shares of the business services provider's stock valued at $1,304,000 after acquiring an additional 676 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at about $208,000. Waverly Advisors LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at about $289,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Waste Connections by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,163,790 shares of the business services provider's stock valued at $199,683,000 after acquiring an additional 183,540 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on WCN. Royal Bank Of Canada reduced their target price on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Melius began coverage on shares of Waste Connections in a report 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 target price for the company 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 report on Thursday, July 24th. Finally, Oppenheimer boosted their target price on shares of Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $213.00.

Waste Connections Trading Down 0.9%

NYSE WCN traded down $1.63 during trading on Tuesday, hitting $171.34. The stock had a trading volume of 273,877 shares, compared to its average volume of 1,131,857. The firm has a 50 day moving average price of $183.14 and a 200 day moving average price of $188.12. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $44.05 billion, a PE ratio of 69.11, a PEG ratio of 3.14 and a beta of 0.61. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were paid a dividend of $0.315 per share. 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 presently 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.