Lingohr Asset Management GmbH Purchases New Stake in Waste Connections, Inc. $WCN

Key Points

• Lingohr Asset Management GmbH has acquired a new stake in Waste Connections, Inc., purchasing 1,500 shares valued at approximately $280,000 during the second quarter.
• Institutional investors collectively own 86.09% of Waste Connections, with several firms, including Gradient Investments and Douglas Lane & Associates, increasing their stakes significantly in the last quarter.
• Waste Connections recently declared a quarterly dividend of $0.315 per share, giving it an annualized yield of 0.7%, with a payout ratio of 50.81%.

Lingohr Asset Management GmbH acquired a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,500 shares of the business services provider's stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gradient Investments LLC grew its holdings in Waste Connections by 22.0% in the 2nd quarter. Gradient Investments LLC now owns 114,922 shares of the business services provider's stock valued at $21,458,000 after buying an additional 20,752 shares in the last quarter. Red Spruce Capital LLC grew its holdings in Waste Connections by 2.5% in the 2nd quarter. Red Spruce Capital LLC now owns 5,461 shares of the business services provider's stock valued at $1,020,000 after buying an additional 131 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in Waste Connections by 5.6% in the 2nd quarter. Douglas Lane & Associates LLC now owns 154,832 shares of the business services provider's stock valued at $28,910,000 after buying an additional 8,207 shares in the last quarter. RDA Financial Network acquired a new position in Waste Connections in the 2nd quarter valued at $345,000. Finally, Central Pacific Bank Trust Division grew its holdings in Waste Connections by 8.3% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,875 shares of the business services provider's stock valued at $1,097,000 after buying an additional 449 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WCN has been the topic of a number of research reports. Oppenheimer upped their price objective on Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a report on Monday, June 9th. Raymond James Financial decreased their price objective on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 22nd. National Bank Financial raised Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Finally, Royal Bank Of Canada reduced their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Five 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $215.00.

Waste Connections Price Performance

Shares of WCN stock opened at $176.10 on Monday. 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 company has a market cap of $45.28 billion, a P/E ratio of 71.01, a P/E/G ratio of 3.18 and a beta of 0.61. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The business has a fifty day simple moving average of $184.14 and a 200 day simple moving average of $188.76.

Waste Connections (NYSE:WCN - Get Free Report) last posted 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 business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 annualized dividend and a yield of 0.7%. Waste Connections's dividend 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.

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