Waste Connections, Inc. $WCN Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 48.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,724,204 shares of the business services provider's stock after purchasing an additional 1,219,056 shares during the period. The Manufacturers Life Insurance Company owned about 1.46% of Waste Connections worth $604,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in Waste Connections by 60.6% in the 1st quarter. Quantinno Capital Management LP now owns 37,868 shares of the business services provider's stock worth $6,150,000 after buying an additional 14,288 shares during the last quarter. SummitTX Capital L.P. purchased a new position in shares of Waste Connections in the first quarter valued at approximately $2,848,000. Owlhouse Capital LP acquired a new stake in shares of Waste Connections in the first quarter worth approximately $4,605,000. Delta Global Management LP boosted its stake in shares of Waste Connections by 94.6% in the first quarter. Delta Global Management LP now owns 14,020 shares of the business services provider's stock worth $2,277,000 after acquiring an additional 6,815 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA increased its position in shares of Waste Connections by 30.7% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 25,525 shares of the business services provider's stock worth $4,146,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on WCN shares. TD Cowen reissued a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Barclays set a $180.00 target price on shares of Waste Connections and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. BMO Capital Markets reiterated an "outperform" rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, Citigroup raised their price target on shares of Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $202.05.

Waste Connections Price Performance

NYSE:WCN opened at $169.63 on Tuesday. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.91. The stock has a market cap of $42.80 billion, a PE ratio of 40.87, a P/E/G ratio of 2.91 and a beta of 0.49. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a 50 day moving average price of $161.57 and a 200 day moving average price of $163.18.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. Equities research analysts expect that Waste Connections, Inc. will post 5.6 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's payout ratio is presently 33.73%.

Key Headlines Impacting Waste Connections

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

• Positive Sentiment: Waste Connections priced C$700 million of senior unsecured notes, including C$300 million of 4.200% notes due 2033. The long-term financing could support acquisitions, refinancing, or other corporate needs, while the relatively attractive cost of the 2033 tranche may help limit interest-expense pressure. Waste Connections Announces Pricing of C$700 Million of Senior Notes
• Positive Sentiment: Analysts highlighted Waste Connections’ strong second-quarter performance: adjusted earnings exceeded expectations, revenue increased year over year, margins expanded, cash flow remained robust, and the company raised its 2026 revenue outlook. These factors reinforce the company’s growth narrative. Is WCN Stock Worth Its Premium Valuation After Strong Q2 Results?
• Positive Sentiment: Waste Connections is using artificial intelligence to improve pricing and operations. AI-based pricing initiatives are generating approximately $20 million in annualized EBITDA gains, while routing tools could provide additional margin and efficiency benefits. How Waste Connections Is Using AI to Expand Margins and Future Growth
• Positive Sentiment: J.P. Morgan maintained a Buy rating, signaling continued confidence in WCN’s operating outlook and long-term growth prospects. J.P. Morgan Remains a Buy on Waste Connections
• Neutral Sentiment: The company’s earnings beat and outlook increase were partly offset by its premium valuation. With WCN trading at a high earnings multiple, investors may require continued strong execution before assigning the stock further upside. Waste Connections Stock Barely Moves Since Q2 Earnings Beat
• Negative Sentiment: Total collection volume declined 1.9% in the second quarter, raising concerns about fixed-cost absorption and potential operating deleverage. Strong pricing and construction-and-demolition volumes helped, but weaker overall volume remains a risk. Waste Connections: Better Margins, But Volume Trend Is Still Weak
• Negative Sentiment: The C$700 million notes offering adds debt and future interest obligations. This is manageable relative to the company’s scale but could constrain financial flexibility, particularly given its existing leverage and premium valuation.

Insider Activity

In related news, SVP Eric Hansen sold 6,000 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president owned 13,350 shares of the company's stock, valued at approximately $2,200,347. This represents a 31.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Patrick James Shea sold 7,500 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the sale, the vice president owned 19,737 shares of the company's stock, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 15,000 shares of company stock worth $2,395,755. 0.27% of the stock is owned by insiders.

About Waste Connections

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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