Nomura Holdings Inc. Trims Stock Position in Waste Connections, Inc. $WCN

Key Points

• Nomura Holdings Inc. has significantly decreased its stake in Waste Connections, Inc. by 90.3%, selling 17,067 shares and leaving it with only 1,833 shares valued at approximately $358,000.
• During the most recent earnings report, Waste Connections exceeded analysts' expectations with $1.29 earnings per share and a revenue of $2.41 billion, showing a 7.1% year-over-year revenue growth.
• The company's quarterly dividend was recently paid at $0.315 per share, resulting in a current yield of 0.7% with a payout ratio of 50.81%.

Nomura Holdings Inc. cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 90.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,833 shares of the business services provider's stock after selling 17,067 shares during the period. Nomura Holdings Inc.'s holdings in Waste Connections were worth $358,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Ramirez Asset Management Inc. lifted its stake in Waste Connections by 122.0% in the first 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 last quarter. Larson Financial Group LLC increased its holdings in shares of Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after purchasing an additional 179 shares during the period. Global Financial Private Client LLC increased its stake in Waste Connections by 890.0% in the first 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 during the last quarter. Valley National Advisers Inc. increased its stake in Waste Connections by 232.3% in the first 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 during the last quarter. Finally, Louisbourg Investments Inc. increased its stake in Waste Connections by 128.6% in the first 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 during the last quarter. 86.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Melius assumed coverage on Waste Connections in a research note on Monday, June 9th. They set a "buy" rating on the stock. Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 target price for the company in a report on Monday, June 9th. CIBC reissued an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Raymond James Financial lowered their target price on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 22nd. Five research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Down 0.6%

NYSE:WCN traded down $1.12 during midday trading on Wednesday, reaching $176.49. 536,210 shares of the stock traded hands, compared to its average volume of 1,121,306. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The business has a 50-day moving average of $184.29 and a two-hundred day moving average of $188.99. 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 stock has a market capitalization of $45.38 billion, a PE ratio of 71.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.61.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results 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 quarter last year, the company posted $1.24 earnings per share. The business's quarterly revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business 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 dividend payout ratio (DPR) is 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.