Waste Connections, Inc. $WCN Position Boosted by Lmcg Investments LLC

Key Points

• Lmcg Investments increased its Waste Connections position by 11.4% in the third quarter, bringing its holdings to 62,580 shares valued at approximately $9.6 million. Institutional investors collectively own 86.09% of the company.
• Waste Connections exceeded third-quarter earnings and revenue expectations, reporting adjusted EPS of $1.58 and revenue of about $2.64 billion. The company raised its full-year outlook, citing stronger landfill volumes and operational execution.
• The company raised its quarterly dividend by 10% to $0.385 per share, although valuation concerns remain with the stock trading at roughly 31 times earnings and several analysts recently lowering price targets.

Lmcg Investments LLC lifted its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 11.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,580 shares of the business services provider's stock after buying an additional 6,388 shares during the period. Lmcg Investments LLC's holdings in Waste Connections were worth $9,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WCN. XXEC Inc. bought a new position in Waste Connections during the second quarter valued at about $164,870,000. Royal Bank of Canada raised its position in Waste Connections by 0.9% in the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider's stock worth $1,983,500,000 after acquiring an additional 106,763 shares in the last quarter. BlackRock Inc. bought a new stake in Waste Connections in the second quarter worth about $1,061,947,000. The Manufacturers Life Insurance Company lifted its holdings in Waste Connections by 48.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider's stock valued at $604,573,000 after acquiring an additional 1,219,056 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Waste Connections in the 2nd quarter valued at about $510,526,000. Institutional investors own 86.09% of the company's stock.

Waste Connections News Summary

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Third-quarter earnings and revenue beat estimates. Waste Connections reported adjusted EPS of $1.58, above the $1.52 Zacks consensus and $1.54 FactSet estimate. Revenue reached approximately $2.64 billion, exceeding estimates near $2.60-$2.61 billion. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its full-year outlook. Improving landfill volumes, stronger operational execution and commodity-related revenue supported what the company described as another broad-based quarterly beat. Solid-waste unit volumes improved sequentially by 70 basis points, led by increased landfill activity. Waste Connections Reports Third Quarter Results and Raises Full-Year Outlook
• Positive Sentiment: Profitability and cash generation remained strong. Third-quarter revenue increased about 7.3% year over year to $2.6 billion in one reported measure, while operating profit rose 23.2% and net income attributable to common shareholders increased 25.5% to $359.2 million. Operating cash flow was $691.9 million.
• Positive Sentiment: The quarterly dividend was increased 10%. The dividend rose from $0.350 to $0.385 per share, with payment scheduled for November 19, 2026, signaling confidence in recurring cash flow. Waste Connections Announces 10 Percent Increase in Quarterly Dividend
• Neutral Sentiment: JPMorgan lowered its price target to $180. Although the target remains above recent trading levels, the reduction may have limited enthusiasm following the earnings release. JPMorgan Cuts Target to $180
• Negative Sentiment: Valuation and insider activity may weigh on the stock. WCN trades at roughly 31 times earnings, while recent reported insider transactions were dominated by sales, which could reinforce concerns that expectations are already elevated.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WCN. Citigroup reduced their price objective on shares of Waste Connections from $182.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, October 15th. UBS Group upgraded shares of Waste Connections from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $176.00 to $200.00 in a report on Friday, September 18th. Weiss Ratings upgraded shares of Waste Connections from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 15th. Raymond James Financial set a $189.00 target price on shares of Waste Connections in a research note on Friday, October 9th. Finally, Morgan Stanley cut their target price on shares of Waste Connections from $205.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $198.61.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $168.51 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $42.29 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.97 and a beta of 0.49. The stock's fifty day simple moving average is $160.94 and its 200 day simple moving average is $161.42. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $179.74.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.06. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.60 billion. Waste Connections's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.65 earnings per share for the current fiscal year.

Insider Transactions at Waste Connections

In related news, SVP Robert Cloninger sold 2,811 shares of Waste Connections stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the transaction, the senior vice president owned 11,666 shares of the company's stock, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Philip Rivard sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the sale, the senior vice president owned 734 shares in the company, valued at approximately $122,262.38. The trade was a 77.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company's stock.

About Waste Connections

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.

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