Ilmarinen Mutual Pension Insurance Co Has $15.32 Million Position in Waste Connections, Inc. $WCN

Key Points

• Ilmarinen Mutual Pension Insurance Co significantly increased its stake in Waste Connections, acquiring an additional 31,000 shares, bringing its total holdings to 78,500 shares worth approximately $15.32 million.
• Several other institutional investors have also raised their positions, with 86.09% of Waste Connections' stock now owned by hedge funds and other institutional entities.
• Waste Connections reported earnings of $1.29 per share for the last quarter, exceeding analysts' expectations and indicating a 7.1% revenue increase from the same period last year.

Ilmarinen Mutual Pension Insurance Co increased its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 65.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 78,500 shares of the business services provider's stock after buying an additional 31,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Waste Connections were worth $15,322,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Waste Connections by 13.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,315,114 shares of the business services provider's stock worth $256,697,000 after buying an additional 151,324 shares during the period. Woodline Partners LP bought a new stake in shares of Waste Connections during the 1st quarter worth about $14,268,000. Ascent Group LLC bought a new stake in shares of Waste Connections during the 1st quarter worth about $291,000. Visualize Group LP boosted its holdings in shares of Waste Connections by 61.9% during the 1st quarter. Visualize Group LP now owns 294,689 shares of the business services provider's stock worth $57,520,000 after buying an additional 112,700 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of Waste Connections during the 1st quarter worth about $1,241,000. Institutional investors own 86.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on WCN. CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Citigroup cut their price objective on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Raymond James Financial cut 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 report on Tuesday, July 22nd. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Five analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $215.00.

Waste Connections Price Performance

Shares of NYSE:WCN traded down $2.04 during midday trading on Friday, hitting $176.10. The stock had a trading volume of 1,527,286 shares, compared to its average volume of 1,001,709. The company's 50-day moving average price is $184.14 and its 200-day moving average price is $188.74. The company has a market capitalization of $45.28 billion, a P/E ratio of 71.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.61. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week 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, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were given a $0.315 dividend. The ex-dividend date 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 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.