Palumbo Wealth Management LLC Boosts Position in Waste Connections, Inc. $WCN

Key Points

• Palumbo Wealth Management LLC increased its holdings in Waste Connections by 133.1% during the second quarter, now owning 7,957 shares valued at approximately $1.48 million.
• Waste Connections recently reported earnings of $1.29 per share for the last quarter, exceeding estimates, with revenues of $2.41 billion, marking a 7.1% year-over-year increase.
• The stock has drawn attention from analysts, with five analysts rating it as a Strong Buy and an average target price of $213.00.

Palumbo Wealth Management LLC grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 133.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,957 shares of the business services provider's stock after buying an additional 4,543 shares during the quarter. Palumbo Wealth Management LLC's holdings in Waste Connections were worth $1,484,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WCN. Nuveen LLC acquired a new position in shares of Waste Connections during the 1st quarter valued at $623,155,000. Vanguard Group Inc. raised its position in Waste Connections by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock valued at $5,901,049,000 after purchasing an additional 954,242 shares during the period. GAMMA Investing LLC lifted its stake in shares of Waste Connections by 19,519.1% during 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Waste Connections by 195.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider's stock worth $224,961,000 after buying an additional 762,468 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Waste Connections by 45.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider's stock worth $316,532,000 after buying an additional 502,986 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Up 0.1%

Shares of NYSE:WCN opened at $172.17 on Thursday. The firm has a market cap of $44.18 billion, a PE ratio of 69.42, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. The company has a fifty day simple moving average of $182.69 and a 200 day simple moving average of $187.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating 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 previous year, the company earned $1.24 earnings per share. Waste Connections'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 research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were paid 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 was Wednesday, August 6th. Waste Connections's dividend payout ratio is presently 50.81%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. CIBC reiterated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Royal Bank Of Canada lowered their price objective on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Melius assumed coverage on shares of Waste Connections in a research report on Monday, June 9th. They set a "buy" rating on the stock. Barclays started coverage on shares of Waste Connections in a research note on Friday, September 19th. They issued an "equal weight" rating and a $192.00 target price for the company. Finally, Oppenheimer raised their price target on shares of Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $213.00.

About Waste Connections

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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