Waste Connections (NYSE:WCN) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Waste Connections has received a hold (C) rating from Weiss Ratings, despite a mix of ratings from other analysts including a recent upgrade to a strong-buy by Atb Cap Markets.
• The company's stock is currently trading at $173.88, having a market capitalization of $44.62 billion and showing a year-over-year revenue increase of 7.1%.
• Investment interest is high, with 86.09% of the stock owned by hedge funds and institutional investors, indicating strong backing from large investors in the market.

Waste Connections (NYSE:WCN - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts also recently issued reports about the stock. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus initiated coverage on shares of Waste Connections in a research report on Tuesday, September 30th. They set a "buy" rating and a $221.00 price objective on the stock. Oppenheimer decreased their price objective on shares of Waste Connections from $210.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday. Citigroup decreased their price objective on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 17th. Finally, National Bankshares decreased their price objective on shares of Waste Connections from $211.00 to $196.00 and set an "outperform" rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $211.73.

Waste Connections Stock Performance

Waste Connections stock traded up $0.42 during midday trading on Wednesday, reaching $173.88. 400,666 shares of the company traded hands, compared to its average volume of 1,127,309. The firm has a market capitalization of $44.62 billion, a price-to-earnings ratio of 70.08, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. The business has a 50 day moving average of $180.56 and a two-hundred day moving average of $187.09. Waste Connections has a 12 month low of $169.36 and a 12 month high of $201.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67.

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

Hedge Funds Weigh In On Waste Connections

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Waste Connections by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 30,867,844 shares of the business services provider's stock worth $5,764,546,000 after purchasing an additional 620,600 shares during the period. WCM Investment Management LLC lifted its holdings in 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 valued at $1,208,669,000 after buying an additional 117,939 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Waste Connections by 14.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider's stock valued at $975,190,000 after buying an additional 642,426 shares in the last quarter. Norges Bank bought a new stake in Waste Connections during the 2nd quarter valued at about $755,938,000. Finally, 1832 Asset Management L.P. lifted its holdings in Waste Connections by 3.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider's stock valued at $746,054,000 after buying an additional 132,455 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

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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