Douglas Lane & Associates LLC Grows Position in Waste Connections, Inc. $WCN

Key Points

• Douglas Lane & Associates LLC increased its stake in Waste Connections by 5.6%, owning approximately 154,832 shares valued at $28.91 million as of the latest report.
• Waste Connections reported earnings of $1.29 per share in the most recent quarter, exceeding expectations, with a revenue of $2.41 billion, a 7.1% increase year-over-year.
• The company has recently announced a quarterly dividend of $0.315 per share, representing an annual yield of 0.7% and a dividend payout ratio of 50.81%.

Douglas Lane & Associates LLC boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 154,832 shares of the business services provider's stock after purchasing an additional 8,207 shares during the period. Douglas Lane & Associates LLC owned approximately 0.06% of Waste Connections worth $28,910,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ramirez Asset Management Inc. grew its position in Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC grew its position in Waste Connections by 994.4% during the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Global Financial Private Client LLC grew its position in Waste Connections by 890.0% during the 1st quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after purchasing an additional 178 shares during the last quarter. Valley National Advisers Inc. grew its position in Waste Connections by 232.3% during the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares during the last quarter. Finally, Louisbourg Investments Inc. boosted its holdings in shares of Waste Connections by 128.6% in the 1st quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

WCN opened at $176.10 on Friday. 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 firm has a fifty day moving average price of $184.14 and a 200 day moving average price of $188.74. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The stock has a market cap of $45.28 billion, a P/E ratio of 71.01, a P/E/G ratio of 3.21 and a beta of 0.61.

Waste Connections (NYSE:WCN - Get Free Report) last posted its 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. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the previous year, the business posted $1.24 EPS. The business's revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Melius Research raised 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. Melius assumed coverage on shares of Waste Connections in a report on Monday, June 9th. They issued a "buy" rating on the stock. Finally, Citigroup dropped their price objective on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $215.00.

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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