OAKMONT Corp Takes $11.51 Million Position in Waste Connections, Inc. $WCN

Key Points

• OAKMONT Corp has acquired a new position in Waste Connections, Inc. worth $11.51 million, purchasing 61,641 shares during the second quarter.
• Waste Connections reported earnings per share of $1.29, exceeding estimates, with a quarterly revenue of $2.41 billion, marking a 7.1% increase from the previous year.
• The stock saw a recent dividend of $0.315 per share, resulting in an annualized dividend yield of 0.7%.

OAKMONT Corp bought a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,641 shares of the business services provider's stock, valued at approximately $11,510,000. Waste Connections makes up 2.0% of OAKMONT Corp's portfolio, making the stock its 11th largest position.

Several other large investors also recently added to or reduced their stakes in WCN. Wealth Enhancement Advisory Services LLC raised its position in Waste Connections by 29.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,932 shares of the business services provider's stock valued at $1,018,000 after purchasing an additional 1,357 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Waste Connections by 13.9% in the first quarter. Central Pacific Bank Trust Division now owns 5,426 shares of the business services provider's stock worth $1,059,000 after purchasing an additional 664 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Waste Connections by 3,206.1% in the first quarter. Versant Capital Management Inc now owns 1,091 shares of the business services provider's stock worth $213,000 after purchasing an additional 1,058 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Waste Connections by 28.9% in the first quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock worth $57,000 after purchasing an additional 65 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Waste Connections by 19,519.1% in the first quarter. GAMMA Investing LLC now owns 918,564 shares of the business services provider's stock worth $179,295,000 after purchasing an additional 913,882 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

WCN stock opened at $172.29 on Friday. The stock has a market capitalization of $44.21 billion, a PE ratio of 69.47, a price-to-earnings-growth ratio of 3.11 and a beta of 0.61. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock's 50 day simple moving average is $182.26 and its 200 day simple moving average is $187.75.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results 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. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, research 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 disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 6th. Waste Connections's dividend payout ratio is 50.81%.

Analysts Set New Price Targets

Several analysts recently issued reports on WCN shares. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 target price on the stock in a research note on Monday, June 9th. Raymond James Financial reduced their target price 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. Melius initiated coverage on Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. Citigroup reduced their target price on Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a report on Wednesday, September 17th. Finally, Barclays assumed coverage on Waste Connections in a report on Friday, September 19th. They set an "equal weight" rating and a $192.00 target price on the stock. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $213.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.