Connor Clark & Lunn Investment Management Ltd. Has $379.40 Million Position in Waste Connections, Inc. $WCN

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 15.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,029,689 shares of the business services provider’s stock after selling 383,926 shares during the quarter. Waste Connections accounts for approximately 1.3% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 14th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.79% of Waste Connections worth $379,396,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WCN. Ramirez Asset Management Inc. grew its holdings in shares of Waste Connections by 122.0% during the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Larson Financial Group LLC boosted its stake in 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. Trust Co. of Toledo NA OH acquired a new position in Waste Connections during the 2nd quarter valued at about $51,000. Marshall & Sullivan Inc. WA bought a new stake in Waste Connections during the 2nd quarter worth approximately $70,000. Finally, Valley National Advisers Inc. increased its holdings in Waste Connections by 83.3% during the 2nd quarter. Valley National Advisers Inc. now owns 396 shares of the business services provider’s stock worth $73,000 after purchasing an additional 180 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on WCN. Raymond James Financial set a $213.00 target price on Waste Connections and gave the company a “strong-buy” rating in a research report on Monday, October 6th. Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Oppenheimer increased their target price on shares of Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. National Bankshares cut their price target on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Finally, Barclays reaffirmed a “negative” rating on shares of Waste Connections in a research report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $210.63.

Insider Activity

In other news, Director Edward E. Guillet sold 9,000 shares of the company’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 transaction, the director owned 14,883 shares of the company’s stock, valued at $2,596,190.52. This represents a 37.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by insiders.

Waste Connections Stock Performance

NYSE WCN opened at $166.08 on Friday. The company has a market capitalization of $42.52 billion, a PE ratio of 69.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.60. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections, Inc. has a 52-week low of $164.37 and a 52-week high of $201.66. The company has a 50-day simple moving average of $173.80 and a 200 day simple moving average of $183.53.

Waste Connections (NYSE:WCN) last released its earnings results 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. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

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

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.