Dogwood Wealth Management LLC Purchases Shares of 1,990 Waste Connections, Inc. $WCN

Key Points

• Dogwood Wealth Management LLC acquired 1,990 shares of Waste Connections, Inc., valued at approximately $361,000, during the second quarter.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have significantly increased their stakes in Waste Connections in recent months, with overall institutional ownership at 86.09%.
• Waste Connections reported a net margin of 6.97% and a year-over-year revenue increase of 7.1% in its most recent quarterly earnings, with strong EPS results surpassing analyst expectations.

Dogwood Wealth Management LLC purchased a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,990 shares of the business services provider's stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Nuveen LLC acquired a new stake in Waste Connections in the first quarter valued at $623,155,000. Vanguard Group Inc. increased its stake in shares of Waste Connections by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock worth $5,901,049,000 after purchasing an additional 954,242 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Waste Connections by 195.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider's stock worth $224,961,000 after buying an additional 762,468 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Waste Connections by 45.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider's stock valued at $316,532,000 after purchasing an additional 502,986 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Waste Connections by 56.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,147,904 shares of the business services provider's stock worth $223,779,000 after acquiring an additional 413,212 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

Shares of NYSE WCN opened at $175.81 on Wednesday. The company has a market cap of $45.11 billion, a PE ratio of 70.89, a P/E/G ratio of 3.15 and a beta of 0.61. The stock has a fifty day moving average price of $181.92 and a 200 day moving average price of $187.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. 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 issued its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping 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 business's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently declared 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 of this dividend 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%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WCN shares. Oppenheimer raised their price objective on Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Citigroup lowered their price objective 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. Melius assumed coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating for the company. Raymond James Financial reduced their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research note on Tuesday, July 22nd. Finally, Scotiabank raised their target price on shares of Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $213.64.

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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