Shell Asset Management Co. Increases Stock Position in Waste Connections, Inc. $WCN

Key Points

• Shell Asset Management Co. increased its stake in Waste Connections, Inc. by 40.1% in Q2, acquiring a total of 23,222 shares worth approximately $4.34 million.
• Waste Connections reported a quarterly earnings of $1.29 per share, exceeding analysts' estimates and showing a 7.1% year-over-year revenue growth with total revenues of $2.41 billion.
• The company recently announced a quarterly dividend of $0.315 per share, equating to an annualized dividend yield of 0.7%.

Shell Asset Management Co. increased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 40.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,222 shares of the business services provider's stock after buying an additional 6,649 shares during the period. Shell Asset Management Co.'s holdings in Waste Connections were worth $4,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its position in shares of Waste Connections by 92.8% during the first quarter. Merit Financial Group LLC now owns 3,551 shares of the business services provider's stock worth $693,000 after acquiring an additional 1,709 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Waste Connections during the 1st quarter worth approximately $206,000. USA Financial Formulas raised its position in shares of Waste Connections by 28.0% in the 1st quarter. USA Financial Formulas now owns 489 shares of the business services provider's stock valued at $95,000 after purchasing an additional 107 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Waste Connections during the 1st quarter valued at approximately $220,000. Finally, Union Bancaire Privee UBP SA grew its position in shares of Waste Connections by 2.3% during the first quarter. Union Bancaire Privee UBP SA now owns 16,033 shares of the business services provider's stock worth $2,970,000 after buying an additional 360 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WCN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a research note on Saturday, September 27th. Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a "strong-buy" rating in a research note on Monday. National Bankshares lowered their price objective on Waste Connections from $211.00 to $196.00 and set an "outperform" rating for the company in a report on Tuesday. Oppenheimer increased their target price on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Scotiabank boosted their price target on Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $212.60.

Waste Connections Stock Down 0.4%

NYSE:WCN opened at $173.50 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average of $180.56 and a 200-day moving average of $187.09. The firm has a market capitalization of $44.52 billion, a PE ratio of 69.96, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the business 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. Analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. 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.

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.