Mainstay Capital Management LLC ADV Buys 1,773 Shares of Waste Connections, Inc. $WCN

Key Points

• Mainstay Capital Management LLC ADV increased its stake in Waste Connections, Inc. by 114.6%, acquiring an additional 1,773 shares during the 2nd quarter, bringing their total holdings to 3,320 shares worth $620,000.
• Waste Connections reported $1.29 earnings per share (EPS) for the last quarter, surpassing analyst estimates and achieving a revenue of $2.41 billion, a 7.1% increase from the previous year.
• The company recently announced a quarterly dividend of $0.315 per share, with an annualized yield of 0.7%, confirming its commitment to returning value to shareholders.

Mainstay Capital Management LLC ADV increased its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 114.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,320 shares of the business services provider's stock after buying an additional 1,773 shares during the period. Mainstay Capital Management LLC ADV's holdings in Waste Connections were worth $620,000 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. Fulton Breakefield Broenniman LLC boosted its holdings in shares of Waste Connections by 2.6% during the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 67,012 shares of the business services provider's stock worth $12,512,000 after buying an additional 1,683 shares during the period. Trifecta Capital Advisors LLC bought a new stake in Waste Connections in the 2nd quarter valued at about $147,000. Maryland State Retirement & Pension System boosted its holdings in Waste Connections by 0.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 24,300 shares of the business services provider's stock valued at $4,543,000 after purchasing an additional 177 shares during the period. Shell Asset Management Co. boosted its holdings in Waste Connections by 40.1% in the 2nd quarter. Shell Asset Management Co. now owns 23,222 shares of the business services provider's stock valued at $4,336,000 after purchasing an additional 6,649 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new stake in Waste Connections in the 2nd quarter valued at about $329,000. Institutional investors own 86.09% of the company's stock.

Waste Connections Price Performance

WCN stock opened at $173.67 on Thursday. The company has a 50 day simple moving average of $180.25 and a 200 day simple moving average of $187.00. The stock has a market cap of $44.56 billion, a price-to-earnings ratio of 70.03, a P/E/G ratio of 3.14 and a beta of 0.62. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the prior year, the company earned $1.24 EPS. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

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

Wall Street Analysts Forecast Growth

WCN has been the subject of a number of recent research reports. National Bankshares cut their price objective on shares of Waste Connections from $211.00 to $196.00 and set an "outperform" rating for the company in a report on Tuesday. Scotiabank boosted their price objective on shares of Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. CIBC reissued an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Barclays started coverage on shares of Waste Connections in a report on Friday, September 19th. They issued an "equal weight" rating and a $192.00 price objective for the company. Finally, Oppenheimer dropped their target price on shares of Waste Connections from $210.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday. Five analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $211.73.

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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