Waste Connections, Inc. $WCN Shares Sold by Sei Investments Co.

Key Points

• Sei Investments reduced its Waste Connections position by 45% in the first quarter, selling 145,023 shares and retaining 177,412 shares worth approximately $28.8 million. Institutional investors and hedge funds still own 86.09% of the company.
• Waste Connections beat quarterly expectations with earnings of $1.50 per share versus a $1.35 consensus estimate, while revenue rose 6.4% year over year to $2.56 billion.
• The company declared a quarterly dividend of $0.35 per share, or $1.40 annualized, representing a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $202.05.

Sei Investments Co. decreased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 45.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,412 shares of the business services provider's stock after selling 145,023 shares during the quarter. Sei Investments Co. owned approximately 0.07% of Waste Connections worth $28,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WCN. Integrated Wealth Concepts LLC acquired a new position in Waste Connections in the 1st quarter valued at about $577,000. Invesco Ltd. increased its holdings in shares of Waste Connections by 12.8% during the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock worth $40,946,000 after buying an additional 24,948 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Waste Connections by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock worth $4,572,000 after buying an additional 688 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Waste Connections during the 2nd quarter valued at approximately $2,714,000. Finally, State Street Corp raised its position in shares of Waste Connections by 1.0% during the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock valued at $337,708,000 after buying an additional 17,197 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Performance

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

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $1.29 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts predict that Waste Connections, Inc. will post 5.6 EPS for the current year.

Waste Connections Dividend Announcement

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. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections's dividend payout ratio (DPR) is currently 33.73%.

Analysts Set New Price Targets

A number of research analysts recently commented on WCN shares. JPMorgan Chase & Co. decreased their price objective on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Barclays set a $180.00 target price on Waste Connections and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Citigroup increased their price target on Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd. Two 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 currently has a consensus rating of "Moderate Buy" and an average target price of $202.05.

Key Stories 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 Transactions at Waste Connections

In other news, COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total value of $234,885.00. Following the completion of the sale, the chief operating officer directly owned 32,861 shares of the company's stock, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the purchase, the chief executive officer directly owned 301,017 shares of the company's stock, valued at approximately $45,826,828.08. This represents a 19.92% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 15,000 shares of company stock valued at $2,395,755. Corporate insiders own 0.27% of the company's stock.

Waste Connections Profile

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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