Findlay Park Partners LLP Purchases 13,600 Shares of Waste Connections, Inc. $WCN

Key Points

• Findlay Park Partners LLP increased its stake in Waste Connections, Inc. by 1.4%, owning 1,011,458 shares valued at approximately $197.4 million, making it the 19th largest position in their portfolio.
• Institutional investors collectively own 86.09% of Waste Connections' stock, with Vanguard Group leading with a holding of over 30 million shares worth nearly $5.9 billion.
• Analysts have largely bullish outlooks on Waste Connections, with five rating it a Strong Buy and a consensus target price of $215.00 per share.

Findlay Park Partners LLP lifted its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,011,458 shares of the business services provider's stock after purchasing an additional 13,600 shares during the quarter. Waste Connections comprises 2.0% of Findlay Park Partners LLP's holdings, making the stock its 19th biggest position. Findlay Park Partners LLP owned approximately 0.39% of Waste Connections worth $197,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ramirez Asset Management Inc. grew its position 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 period. Larson Financial Group LLC lifted its stake in 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 acquiring an additional 179 shares in the last quarter. Global Financial Private Client LLC lifted its stake in Waste Connections by 890.0% in the 1st quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after acquiring an additional 178 shares in the last quarter. Valley National Advisers Inc. lifted its stake in 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 acquiring an additional 151 shares in the last quarter. Finally, Louisbourg Investments Inc. lifted its stake in 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 in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

Shares of WCN stock traded up $0.08 during trading on Thursday, reaching $183.31. 636,216 shares of the company's stock were exchanged, compared to its average volume of 1,016,622. 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 stock has a market capitalization of $47.37 billion, a PE ratio of 73.92, a PEG ratio of 3.30 and a beta of 0.58. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The firm's fifty day moving average price is $185.15 and its 200-day moving average price is $189.39.

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 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 analyst estimates of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The firm's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on WCN shares. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 target price on the stock in a research note on Monday, June 9th. Melius started coverage on Waste Connections in a research note on Monday, June 9th. They issued a "buy" rating on the stock. CIBC restated an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Scotiabank boosted their target price on Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $215.00.

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.