R Squared Ltd Acquires 6,223 Shares of Waste Connections, Inc. $WCN

Key Points

• R Squared Ltd significantly increased its stake in Waste Connections, Inc. by 340.1%, acquiring an additional 6,223 shares, bringing its total holdings to 8,053 shares valued at approximately $1.5 million.
• Waste Connections has reported a 5.1% year-over-year increase in quarterly revenue, earning $1.44 EPS and beating analyst expectations of $1.38.
• The company plans to increase its quarterly dividend to $0.35, up from $0.32, with the ex-dividend date set for November 5th.

R Squared Ltd lifted its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 340.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,053 shares of the business services provider's stock after buying an additional 6,223 shares during the period. Waste Connections comprises approximately 0.8% of R Squared Ltd's holdings, making the stock its 15th largest holding. R Squared Ltd's holdings in Waste Connections were worth $1,504,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Ramirez Asset Management Inc. lifted its holdings in shares of Waste Connections by 122.0% during the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. Larson Financial Group LLC boosted its position in Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after buying an additional 179 shares in the last quarter. Valley National Advisers Inc. increased its stake in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after buying an additional 151 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Waste Connections in the second quarter valued at about $51,000. Finally, Hexagon Capital Partners LLC lifted its position in Waste Connections by 29.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock worth $55,000 after buying an additional 64 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Down 0.9%

WCN stock opened at $176.91 on Friday. The stock has a market cap of $45.39 billion, a price-to-earnings ratio of 73.71, a price-to-earnings-growth ratio of 3.25 and a beta of 0.62. The company has a fifty day moving average price of $177.11 and a two-hundred day moving average price of $185.48. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.06. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. Waste Connections's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 EPS. Waste Connections has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be paid a $0.35 dividend. This is a positive change from Waste Connections's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio is presently 50.81%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a "strong-buy" rating in a research report on Monday, October 6th. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. National Bankshares dropped their price objective on Waste Connections from $211.00 to $196.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 7th. Barclays reaffirmed a "negative" rating on shares of Waste Connections in a research report on Thursday. Finally, UBS Group set a $195.00 target price on shares of Waste Connections and gave the stock a "neutral" rating in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $210.63.

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.

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