Fulton Breakefield Broenniman LLC Increases Stake in Waste Connections, Inc. $WCN

Key Points

• Fulton Breakefield Broenniman LLC increased its stake in Waste Connections, Inc. by 2.6% in the second quarter, now holding 67,012 shares valued at about $12.5 million.
• Following recent analyst reports, Waste Connections received upgrades and has a consensus rating of "Buy", with a price target average of $211.73.
• The company declared a quarterly dividend of $0.315 per share, reflecting an annualized yield of 0.7% with a payout ratio of 50.81%.

Fulton Breakefield Broenniman LLC boosted its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,012 shares of the business services provider's stock after acquiring an additional 1,683 shares during the period. Fulton Breakefield Broenniman LLC's holdings in Waste Connections were worth $12,512,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in 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 period. WCM Investment Management LLC raised its position in Waste Connections by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 6,383,780 shares of the business services provider's stock worth $1,230,984,000 after buying an additional 18,400 shares during the last quarter. Mackenzie Financial Corp raised its position in Waste Connections by 5.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider's stock worth $892,023,000 after buying an additional 250,684 shares during the last quarter. 1832 Asset Management L.P. raised its position in Waste Connections by 2.7% during the 1st quarter. 1832 Asset Management L.P. now owns 3,863,120 shares of the business services provider's stock worth $754,042,000 after buying an additional 100,716 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Waste Connections by 3.3% during the 1st quarter. TD Asset Management Inc now owns 3,819,259 shares of the business services provider's stock worth $744,420,000 after buying an additional 120,752 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Wall Street Analyst Weigh In

WCN has been the subject of a number of analyst reports. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Oppenheimer cut their price target on shares of Waste Connections from $210.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday. Royal Bank Of Canada cut their price target 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. CIBC reissued an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Finally, Scotiabank increased their price objective 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 analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $211.73.

Waste Connections Stock Performance

Shares of WCN opened at $173.67 on Thursday. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a market cap of $44.56 billion, a price-to-earnings ratio of 70.03, a price-to-earnings-growth ratio of 3.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day moving average of $180.25 and a 200-day moving average of $187.00.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share 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 $0.315 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections's payout ratio is presently 50.81%.

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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