Yarbrough Capital LLC Acquires Shares of 1,903 Waste Connections, Inc. $WCN

Key Points

• Yarbrough Capital LLC acquired a new position in Waste Connections, Inc. with 1,903 shares valued at approximately $355,000 during the second quarter.
• Several institutional investors, including DAVENPORT & Co LLC and Private Trust Co. NA, increased their stakes in Waste Connections, showcasing significant interest with an 86.09% ownership by hedge funds and institutional investors.
• Research analysts have a consensus rating of "Buy" for Waste Connections, with a price target averaging $213.00, indicating a positive outlook for the stock.

Yarbrough Capital LLC acquired a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,903 shares of the business services provider's stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC grew its stake in Waste Connections by 37.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider's stock worth $350,000 after buying an additional 488 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Waste Connections by 89.5% in the first quarter. Private Trust Co. NA now owns 288 shares of the business services provider's stock valued at $56,000 after acquiring an additional 136 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Waste Connections by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock worth $1,379,000 after acquiring an additional 1,137 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Waste Connections by 41.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock valued at $3,843,000 after acquiring an additional 5,733 shares during the period. Finally, Premier Fund Managers Ltd raised its position in Waste Connections by 10.0% in the 1st quarter. Premier Fund Managers Ltd now owns 331,088 shares of the business services provider's stock valued at $63,841,000 after purchasing an additional 30,136 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. CIBC reissued an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 price target on the stock in a research report on Monday, June 9th. Scotiabank increased their price objective on Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Citigroup lowered their target price on Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 17th. Finally, Oppenheimer upped their price target on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $213.00.

Waste Connections Price Performance

Shares of WCN opened at $172.08 on Wednesday. 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's 50 day moving average is $182.91 and its two-hundred day moving average is $188.01. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The firm has a market capitalization of $44.15 billion, a PE ratio of 69.39, a P/E/G ratio of 3.12 and a beta of 0.61.

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

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections's dividend payout ratio is 50.81%.

Waste Connections 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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