OMERS ADMINISTRATION Corp Has $218.74 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• OMERS Administration Corp reduced its stake in Waste Connections by 0.6%, selling 7,232 shares, but still maintains ownership of over 1.12 million shares, accounting for 1.9% of its portfolio.
• Waste Connections reported quarterly earnings of $1.29 EPS, exceeding analysts' expectations of $1.25, with revenues reaching $2.41 billion, up 7.1% year-over-year.
• The company announced a quarterly dividend of $0.315, representing an annualized yield of 0.7% and a payout ratio of 50.81%.

OMERS ADMINISTRATION Corp lowered its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,120,652 shares of the business services provider's stock after selling 7,232 shares during the quarter. Waste Connections comprises 1.9% of OMERS ADMINISTRATION Corp's portfolio, making the stock its 12th largest holding. OMERS ADMINISTRATION Corp owned approximately 0.43% of Waste Connections worth $218,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WCN. First Trust Advisors LP boosted its position in Waste Connections by 41.8% during the fourth quarter. First Trust Advisors LP now owns 19,944 shares of the business services provider's stock worth $3,420,000 after purchasing an additional 5,882 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Waste Connections by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 432,597 shares of the business services provider's stock valued at $74,224,000 after acquiring an additional 35,689 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of Waste Connections by 232.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 7,252 shares of the business services provider's stock valued at $1,244,000 after acquiring an additional 5,073 shares during the period. Northern Trust Corp boosted its position in shares of Waste Connections by 18.2% in the fourth quarter. Northern Trust Corp now owns 835,710 shares of the business services provider's stock valued at $143,391,000 after acquiring an additional 128,746 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Waste Connections by 83.5% in the fourth quarter. AQR Capital Management LLC now owns 130,787 shares of the business services provider's stock valued at $22,295,000 after acquiring an additional 59,515 shares during the period. Institutional investors own 86.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WCN shares. JPMorgan Chase & Co. increased their price objective on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Citigroup reduced their target price on Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a research report on Monday, July 28th. Melius started coverage on Waste Connections in a research report on Monday, June 9th. They issued a "buy" rating for the company. Royal Bank Of Canada reduced their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Finally, CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Waste Connections currently has an average rating of "Buy" and an average price target of $215.00.

Waste Connections Price Performance

Waste Connections stock traded up $1.86 during mid-day trading on Monday, hitting $185.10. 690,040 shares of the company were exchanged, compared to its average volume of 943,188. 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 business has a fifty day moving average of $185.14 and a 200 day moving average of $189.35. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The company has a market capitalization of $47.83 billion, a PE ratio of 74.64, a price-to-earnings-growth ratio of 3.33 and a beta of 0.61.

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 the consensus estimate of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the company posted $1.24 earnings per share. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were paid a $0.315 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis 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.