RDA Financial Network Acquires New Holdings in Waste Connections, Inc. $WCN

Key Points

• RDA Financial Network has acquired 1,848 shares of Waste Connections, Inc. (NYSE:WCN), valued at approximately $345,000, during the second quarter.
• Analyst ratings for Waste Connections include multiple upgrades, with a current average rating of "Buy" and a price target of $215.00 as per MarketBeat.com.
• The company reported a net margin of 6.97% and a year-over-year revenue increase of 7.1%, with earnings per share (EPS) of $1.29 that exceeded analysts' expectations.

RDA Financial Network acquired a new stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,848 shares of the business services provider's stock, valued at approximately $345,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in Waste Connections by 37.3% during the first 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 period. Private Trust Co. NA raised its position 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 acquiring an additional 136 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Waste Connections by 19.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock worth $1,379,000 after acquiring an additional 1,137 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Waste Connections by 41.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock worth $3,843,000 after acquiring an additional 5,733 shares during the period. Finally, Premier Fund Managers Ltd raised its position 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 worth $63,841,000 after acquiring an additional 30,136 shares during the period. Institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

WCN has been the topic of several recent research reports. National Bank Financial upgraded shares of Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Royal Bank Of Canada decreased their price target on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Oppenheimer increased their price target on shares of Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price target on the stock in a research report on Monday, June 9th. Five analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $176.10 on Monday. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The stock has a market capitalization of $45.28 billion, a P/E ratio of 71.01, a PEG ratio of 3.18 and a beta of 0.61. The firm has a fifty day simple moving average of $184.14 and a two-hundred day simple moving average of $188.76. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data 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. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same period last year, the company posted $1.24 EPS. The business's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, analysts expect 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. Investors 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 dividend on an annualized basis and a yield of 0.7%. Waste Connections's dividend payout ratio (DPR) is presently 50.81%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.