Teacher Retirement System of Texas Grows Position in Waste Connections, Inc. $WCN

Teacher Retirement System of Texas grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 496,110 shares of the business services provider’s stock after purchasing an additional 72,803 shares during the quarter. Teacher Retirement System of Texas’ holdings in Waste Connections were worth $92,634,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ramirez Asset Management Inc. increased its position in shares of Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Waste Connections by 994.4% during the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 179 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Waste Connections by 232.3% during the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 151 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Waste Connections during the 2nd quarter valued at $51,000. Finally, Hexagon Capital Partners LLC increased its position in shares of Waste Connections by 29.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 64 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Down 0.0%

WCN stock opened at $176.76 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $45.36 billion, a price-to-earnings ratio of 73.65, a PEG ratio of 3.25 and a beta of 0.62. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The stock has a fifty day moving average of $176.95 and a 200-day moving average of $185.40.

Waste Connections (NYSE:WCN) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company earned $1.35 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio is 52.50%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WCN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research report on Friday. Oppenheimer raised their target price on Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus cut their price target on Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday. Scotiabank reiterated an “outperform” rating and set a $210.00 price target on shares of Waste Connections in a research note on Thursday. Finally, Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a “strong-buy” rating in a research note on Monday, October 6th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Waste Connections has a consensus rating of “Buy” and a consensus target price of $210.63.

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.