Oliver Lagore Vanvalin Investment Group Takes $1.87 Million Position in Waste Connections, Inc. $WCN

Key Points

• Oliver Lagore Vanvalin Investment Group acquired 9,564 shares of Waste Connections, Inc. valued at approximately $1.87 million during the second quarter, increasing institutional interest in the company.
• Waste Connections reported a quarterly earnings per share of $1.29, exceeding analysts' expectations, with a year-over-year revenue increase of 7.1%.
• The company has a strong consensus rating of "Buy" from analysts, with five giving it a "Strong Buy" rating, amid recent changes in price targets and ratings by several financial institutions.

Oliver Lagore Vanvalin Investment Group bought a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,564 shares of the business services provider's stock, valued at approximately $1,867,000.

A number of other hedge funds also recently bought and sold shares of the business. DAVENPORT & Co LLC grew its holdings in Waste Connections by 37.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider's stock valued at $350,000 after purchasing an additional 488 shares during the last quarter. Private Trust Co. NA grew its holdings in Waste Connections by 89.5% in the first quarter. Private Trust Co. NA now owns 288 shares of the business services provider's stock worth $56,000 after purchasing an additional 136 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Waste Connections by 19.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock worth $1,379,000 after purchasing an additional 1,137 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Waste Connections by 41.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock valued at $3,843,000 after acquiring an additional 5,733 shares during the last quarter. Finally, Premier Fund Managers Ltd increased its holdings in Waste Connections by 10.0% in the first quarter. Premier Fund Managers Ltd now owns 331,088 shares of the business services provider's stock valued at $63,841,000 after buying an additional 30,136 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Down 0.7%

Shares of WCN traded down $1.25 on Friday, reaching $174.16. The stock had a trading volume of 1,514,518 shares, compared to its average volume of 1,085,095. 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 firm has a market capitalization of $44.78 billion, a price-to-earnings ratio of 70.23, a price-to-earnings-growth ratio of 3.14 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 50-day simple moving average of $183.37 and a 200-day simple moving average of $188.21.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The company had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.Waste Connections's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current 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 issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is currently 50.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WCN shares. Melius assumed coverage on shares of Waste Connections in a research report on Monday, June 9th. They set a "buy" rating for the company. CIBC reiterated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Citigroup dropped their price objective on Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a report on Wednesday. Barclays initiated coverage on shares of Waste Connections in a report on Friday. They set an "equal weight" rating and a $192.00 target price for the company. Finally, Raymond James Financial cut 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. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Waste Connections presently has a consensus rating of "Buy" and a consensus price target of $213.00.

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.