Waste Connections, Inc. $WCN Position Lifted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Waste Connections, Inc. by 2.1%, now holding 97,924 shares valued at approximately $18.3 million.
• Multiple institutional investors have significantly raised their positions in Waste Connections, with Ramirez Asset Management increasing its stake by 122.0% in the first quarter.
• The company recently announced a quarterly dividend of $0.315 per share, representing an annualized yield of 0.7% and reflecting a payout ratio of 50.81%.

KLP Kapitalforvaltning AS raised its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,924 shares of the business services provider's stock after acquiring an additional 2,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Waste Connections were worth $18,286,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ramirez Asset Management Inc. lifted its position 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 worth $36,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC lifted its stake in Waste Connections by 994.4% during the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares during the last quarter. Louisbourg Investments Inc. lifted its stake in Waste Connections by 128.6% during the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Waste Connections by 29.2% during the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock worth $55,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reduced 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. National Bankshares cut their target price on shares of Waste Connections from $211.00 to $196.00 and set an "outperform" rating on the stock in a report on Tuesday. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Oppenheimer reduced their price objective on Waste Connections from $210.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, CIBC restated an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $211.73.

Waste Connections Stock Up 0.1%

WCN stock opened at $173.67 on Thursday. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The company has a market capitalization of $44.56 billion, a price-to-earnings ratio of 70.03, a price-to-earnings-growth ratio of 3.14 and a beta of 0.62. The firm's 50-day moving average is $180.25 and its two-hundred day moving average is $187.00. 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 earnings results on Wednesday, July 23rd. The business services provider reported $1.29 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 firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. On average, analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced 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 was Wednesday, August 6th. Waste Connections's payout ratio is presently 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.

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