PGGM Investments Has $45.03 Million Holdings in Waste Connections, Inc. $WCN

Key Points

• PGGM Investments increased its stake in Waste Connections by 383.3% during the second quarter, owning approximately 241,155 shares valued at $45 million.
• Waste Connections reported earnings of $1.29 per share for the last quarter, surpassing analysts' expectations and achieving a revenue of $2.41 billion.
• The company declared a quarterly dividend of $0.315 per share, representing a 0.7% dividend yield with a payout ratio of 50.81%.

PGGM Investments lifted its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 383.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 241,155 shares of the business services provider's stock after buying an additional 191,253 shares during the period. PGGM Investments owned about 0.09% of Waste Connections worth $45,028,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Addenda Capital Inc. increased its holdings in shares of Waste Connections by 7.4% during the second quarter. Addenda Capital Inc. now owns 211,014 shares of the business services provider's stock worth $39,401,000 after buying an additional 14,573 shares in the last quarter. OAKMONT Corp acquired a new position in shares of Waste Connections during the second quarter worth $11,510,000. Signaturefd LLC grew its stake in shares of Waste Connections by 9.3% in the second quarter. Signaturefd LLC now owns 2,888 shares of the business services provider's stock worth $539,000 after purchasing an additional 245 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in shares of Waste Connections in the second quarter worth $365,000. Finally, Beaumont Financial Advisors LLC grew its stake in shares of Waste Connections by 4.0% in the second quarter. Beaumont Financial Advisors LLC now owns 29,474 shares of the business services provider's stock worth $5,503,000 after purchasing an additional 1,135 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

Shares of NYSE WCN opened at $175.81 on Wednesday. The firm's 50-day moving average price is $181.92 and its 200-day moving average price is $187.62. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The firm has a market capitalization of $45.11 billion, a P/E ratio of 70.89, a P/E/G ratio of 3.15 and a beta of 0.61. 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 (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 net margin of 6.97% and a return on equity of 15.72%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts anticipate 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 issued a dividend of $0.315 per share. 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 is currently 50.81%.

Wall Street Analysts Forecast Growth

WCN has been the topic of several analyst reports. Raymond James Financial reduced their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, July 22nd. CIBC reissued an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Citigroup reduced their price objective on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. Stifel Nicolaus initiated coverage on shares of Waste Connections in a research note on Tuesday. They issued a "buy" rating and a $221.00 price objective on the stock. Finally, Oppenheimer boosted their price objective on shares of Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research note 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 issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $213.64.

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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