Waste Connections, Inc. $WCN Shares Purchased by Versor Investments LP

Versor Investments LP boosted its position in Waste Connections, Inc. (NYSE:WCN) by 49.5% in the 2nd quarter, Holdings Channel reports. The firm owned 2,776 shares of the business services provider’s stock after acquiring an additional 919 shares during the quarter. Versor Investments LP’s holdings in Waste Connections were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WCN. Nuveen LLC acquired a new stake in shares of Waste Connections in the 1st quarter worth $623,155,000. Vanguard Group Inc. increased its holdings 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 buying an additional 954,242 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Waste Connections by 195.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock worth $224,961,000 after buying an additional 762,468 shares during the last quarter. Montrusco Bolton Investments Inc. increased its stake in Waste Connections by 46.6% during the second quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock worth $419,451,000 after acquiring an additional 732,718 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Waste Connections by 45.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider’s stock worth $316,532,000 after acquiring an additional 502,986 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Edward E. Guillet sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the completion of the transaction, the director directly owned 14,883 shares of the company’s stock, valued at $2,596,190.52. The trade was a 37.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Scotiabank reissued an “outperform” rating and set a $210.00 target price on shares of Waste Connections in a research note on Thursday, October 23rd. CIBC reissued an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. National Bankshares dropped their price target on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Royal Bank Of Canada dropped their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Finally, UBS Group set a $195.00 price target on shares of Waste Connections and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Five 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections has a consensus rating of “Buy” and an average price target of $210.63.

Waste Connections Trading Up 1.7%

Shares of WCN stock opened at $168.58 on Wednesday. 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 stock has a market capitalization of $43.16 billion, a P/E ratio of 70.24, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The company has a 50 day moving average price of $174.88 and a 200 day moving average price of $184.08. Waste Connections, Inc. has a fifty-two week low of $164.37 and a fifty-two week high of $201.66.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 5th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s payout ratio is presently 58.33%.

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.