Free Trial

Waste Connections, Inc. (NYSE:WCN) Short Interest Update

Waste Connections logo with Business Services background

Key Points

  • Short interest in Waste Connections surged by 246.9% in July, reaching 2,320,000 shares, indicating increased bearish sentiment among investors.
  • Waste Connections reported a quarterly earnings per share of $1.29, exceeding analysts' estimates by $0.04, alongside a revenue of $2.41 billion, reflecting a 7.1% year-over-year growth.
  • The company announced a quarterly dividend of $0.315, payable on August 21st, representing an annualized yield of 0.7% with a payout ratio of 50.81%.
  • Five stocks to consider instead of Waste Connections.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,320,000 shares, agrowthof246.9% from the June 30th total of 668,700 shares. Approximately0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily trading volume, of 1,170,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately0.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Waste Connections by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock worth $5,901,049,000 after purchasing an additional 954,242 shares during the last quarter. Bank of Montreal Can raised its position in shares of Waste Connections by 4.3% during the 4th quarter. Bank of Montreal Can now owns 8,644,222 shares of the business services provider's stock worth $1,481,041,000 after purchasing an additional 356,798 shares during the last quarter. FIL Ltd raised its position in shares of Waste Connections by 46.2% during the 4th quarter. FIL Ltd now owns 7,177,724 shares of the business services provider's stock worth $1,231,368,000 after purchasing an additional 2,269,652 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Waste Connections by 1.8% during the 2nd quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider's stock worth $1,208,669,000 after purchasing an additional 117,939 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Waste Connections by 17.8% during the 4th quarter. Capital International Investors now owns 5,949,152 shares of the business services provider's stock worth $1,020,672,000 after purchasing an additional 899,058 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Trading Down 0.0%

Shares of Waste Connections stock opened at $186.64 on Friday. The firm has a 50-day simple moving average of $187.34 and a two-hundred day simple moving average of $189.08. The company has a market cap of $48.23 billion, a P/E ratio of 75.26, a price-to-earnings-growth ratio of 3.36 and a beta of 0.58. Waste Connections has a fifty-two week low of $169.36 and a fifty-two week 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.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. As a group, equities analysts predict that Waste Connections 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 will be paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th will be given a $0.315 dividend. The ex-dividend date is 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%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WCN. Scotiabank boosted their price objective 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. Citigroup dropped their price objective on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Melius began coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Finally, Royal Bank Of Canada cut their price target on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $215.00.

Get Our Latest Analysis on WCN

About Waste Connections

(Get Free Report)

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.

Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Waste Connections Right Now?

Before you consider Waste Connections, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waste Connections wasn't on the list.

While Waste Connections currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Reduce the Risk Cover

Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir & AMD Earnings: Massive Options Setups Ahead
3 Value Plays Set to Explode
5 Stocks to BUY NOW in August 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines