Waste Connections, Inc. $WCN Stock Position Lifted by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 11.6% during Q2, totaling 18,067 shares valued at approximately $3.37 million.
• Multiple institutional investors have significantly increased their stakes in Waste Connections, with holdings now comprising 86.09% of the company's stock.
• The stock has a consensus rating of Buy and a current price target of $213.79, following several recent upgrades from equity analysts.

QRG Capital Management Inc. grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 11.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,067 shares of the business services provider's stock after purchasing an additional 1,879 shares during the period. QRG Capital Management Inc.'s holdings in Waste Connections were worth $3,373,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WCN. Ramirez Asset Management Inc. grew its position in Waste Connections by 122.0% in the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after acquiring an additional 179 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after acquiring an additional 151 shares in the last quarter. Louisbourg Investments Inc. boosted its holdings in shares of Waste Connections by 128.6% in the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after acquiring an additional 135 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Waste Connections by 29.2% during the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Waste Connections in a research report on Saturday, September 27th. Atb Cap Markets upgraded Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Stifel Nicolaus assumed coverage on Waste Connections in a report on Tuesday, September 30th. They set a "buy" rating and a $221.00 target price on the stock. Scotiabank upped their price target on shares of Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Finally, Citigroup reduced their price objective on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating for the company in a research report on Wednesday, September 17th. Five research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $213.79.

Waste Connections Trading Down 0.2%

Shares of WCN opened at $174.15 on Tuesday. The business's 50-day moving average price is $180.93 and its 200 day moving average price is $187.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $44.69 billion, a P/E ratio of 70.22, a P/E/G ratio of 3.15 and a beta of 0.62. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66.

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, beating analysts' consensus estimates of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, August 6th. Waste Connections's payout ratio is presently 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.

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