Waste Connections, Inc. $WCN Shares Newly Acquired by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management acquired 8,460 Waste Connections shares in the third quarter, valued at approximately $1.3 million. Institutional investors collectively own 86.09% of the company.
• Two senior vice presidents sold a combined 5,311 shares, while company insiders retain just 0.27% ownership.
• Waste Connections exceeded quarterly earnings and revenue expectations, reporting $1.50 in EPS and $2.56 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $198.61, and the company pays a $0.35 quarterly dividend.

Triasima Portfolio Management inc. acquired a new position in Waste Connections, Inc. (NYSE:WCN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 8,460 shares of the business services provider's stock, valued at approximately $1,305,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada grew its position in shares of Waste Connections by 0.9% during the 1st quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider's stock worth $1,983,500,000 after purchasing an additional 106,763 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $1,061,947,000. The Manufacturers Life Insurance Company raised its position in shares of Waste Connections by 48.7% in the first 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 buying an additional 1,219,056 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $510,526,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $477,944,000. Institutional investors and hedge funds own 86.09% of the company's stock.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Cloninger sold 2,811 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. The trade was a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Philip Rivard sold 2,500 shares of the company's stock in a transaction on 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 of the company's stock, valued at $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company's stock.

Trending Headlines about Waste Connections

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

• Positive Sentiment: Bernstein initiated or reiterated a Buy rating on Waste Connections, providing a positive analyst endorsement. Waste Connections Receives a Buy from Bernstein
• Positive Sentiment: Zacks identified WCN as a top-ranked momentum stock, suggesting favorable recent price and trading trends that could attract growth and momentum investors. Waste Connections Is a Top-Ranked Momentum Stock
• Positive Sentiment: Waste Connections was featured among dividend stocks viewed as capable of continuing to grow while passing higher costs on to customers, reinforcing the appeal of its defensive, recurring-revenue business model. Dividend Stocks That Could Keep Growing
• Neutral Sentiment: Morgan Stanley lowered its price target to $195, but the revised target remains above the current trading level. The change signals more cautious valuation expectations rather than an outright bearish view. Morgan Stanley Cuts Waste Connections Stock Target
• Negative Sentiment: Citigroup reduced its price target from $182 to $175 and assigned a Neutral rating, limiting the perceived near-term upside and adding pressure to the valuation narrative. Citigroup Lowers Waste Connections Price Target
• Negative Sentiment: Recent previews indicate that WCN may not have the combination of factors typically associated with an earnings beat, creating a risk ahead of next week’s results. Waste Connections Earnings Preview

Waste Connections Trading Up 5.6%

Shares of Waste Connections stock opened at $165.62 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $179.74. The company has a market capitalization of $41.57 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.75 and a beta of 0.49. The firm's 50-day moving average price is $160.81 and its two-hundred day moving average price is $161.29.

Waste Connections (NYSE:WCN - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. On average, analysts forecast that Waste Connections, Inc. will post 5.65 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's dividend payout ratio (DPR) is currently 33.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WCN shares. Wolfe Research started coverage on Waste Connections in a research report on Tuesday, September 15th. They set an "outperform" rating and a $204.00 price target on the stock. Barclays raised their price objective on Waste Connections from $180.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. Canadian Imperial Bank of Commerce set a $184.00 price objective on Waste Connections and gave the company an "outperformer" rating in a report on Thursday, October 8th. Scotiabank set a $193.00 target price on Waste Connections in a research report on Thursday. Finally, TD Cowen reiterated a "buy" rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $198.61.

Waste Connections Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal, recycling and resource recovery services. The company serves residential, commercial, industrial and construction customers through local operations and provides services under municipal and other contracted arrangements.

Its business includes curbside and commercial waste collection, transfer stations, solid waste landfills, recycling facilities and organics processing. Waste Connections also provides environmental services for energy-producing customers, including the management and disposal of non-hazardous oilfield waste, and operates resource recovery and renewable energy projects in connection with certain waste facilities.

Founded in 1997, Waste Connections serves communities across the United States and Canada.

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