Lansforsakringar Fondforvaltning AB publ Has $16.12 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in Waste Connections, Inc. by 51.1%, selling 86,405 shares during the first quarter, leaving it with a remaining 82,571 shares worth approximately $16.1 million.
• Investment analysts have a positive outlook on Waste Connections, with multiple firms upgrading the stock to a "strong-buy" rating and setting a consensus price target of $215.00.
• Waste Connections recently announced a quarterly dividend of $0.315 per share, reflecting a 0.7% dividend yield and a payout ratio of 50.81%.

Lansforsakringar Fondforvaltning AB publ reduced its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 51.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,571 shares of the business services provider's stock after selling 86,405 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Waste Connections were worth $16,117,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WCN. First Trust Advisors LP boosted its stake in shares of Waste Connections by 41.8% in the 4th quarter. First Trust Advisors LP now owns 19,944 shares of the business services provider's stock valued at $3,420,000 after purchasing an additional 5,882 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Waste Connections by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 432,597 shares of the business services provider's stock worth $74,224,000 after purchasing an additional 35,689 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in Waste Connections by 232.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 7,252 shares of the business services provider's stock valued at $1,244,000 after purchasing an additional 5,073 shares during the last quarter. Northern Trust Corp boosted its position in Waste Connections by 18.2% in the fourth quarter. Northern Trust Corp now owns 835,710 shares of the business services provider's stock valued at $143,391,000 after buying an additional 128,746 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Waste Connections by 83.5% during the fourth quarter. AQR Capital Management LLC now owns 130,787 shares of the business services provider's stock worth $22,295,000 after buying an additional 59,515 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Melius assumed coverage on Waste Connections in a research note on Monday, June 9th. They issued a "buy" rating for the company. Raymond James Financial dropped their target price on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 price objective for the company in a research note on Monday, June 9th. Finally, National Bank Financial upgraded shares of Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Waste Connections currently has a consensus rating of "Buy" and a consensus price target of $215.00.

Waste Connections Trading Up 1.0%

Shares of WCN stock traded up $1.86 on Monday, hitting $185.10. The company had a trading volume of 690,040 shares, compared to its average volume of 943,188. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $47.83 billion, a P/E ratio of 74.64, a P/E/G ratio of 3.33 and a beta of 0.61. The stock's 50-day moving average is $185.14 and its two-hundred day moving average is $189.35.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The firm's quarterly revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were paid 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 is currently 50.81%.

Waste Connections Company 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.