OFI Invest Asset Management Raises Position in Waste Connections, Inc. $WCN

OFI Invest Asset Management increased its holdings in Waste Connections, Inc. (NYSE:WCN) by 26.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 526 shares of the business services provider’s stock after acquiring an additional 109 shares during the quarter. OFI Invest Asset Management’s holdings in Waste Connections were worth $98,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its position in shares of Waste Connections by 11.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,934 shares of the business services provider’s stock worth $3,538,000 after buying an additional 1,940 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in Waste Connections by 21.5% during the second quarter. Johnson Investment Counsel Inc. now owns 1,749 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 310 shares in the last quarter. Apollon Wealth Management LLC raised its position in Waste Connections by 6.3% during the second quarter. Apollon Wealth Management LLC now owns 2,687 shares of the business services provider’s stock valued at $501,000 after purchasing an additional 159 shares in the last quarter. Natural Investments LLC purchased a new stake in Waste Connections during the second quarter valued at about $889,000. Finally, Trust Co. of Toledo NA OH purchased a new stake in Waste Connections during the second quarter valued at about $51,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Down 0.4%

Shares of NYSE:WCN opened at $172.19 on Tuesday. The stock’s 50-day moving average price is $179.32 and its 200-day moving average price is $186.49. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The stock has a market capitalization of $44.18 billion, a P/E ratio of 69.43, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

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

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were paid a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections’s dividend payout ratio (DPR) is presently 50.81%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WCN shares. Stifel Nicolaus started coverage on Waste Connections in a research report on Tuesday, September 30th. They set a “buy” rating and a $221.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. National Bankshares lowered their price target on Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Finally, Raymond James Financial set a $213.00 price target on Waste Connections and gave the company a “strong-buy” rating in a research report on Monday, October 6th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $211.73.

About Waste Connections

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.