Waste Connections, Inc. $WCN Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its position in Waste Connections, Inc. (NYSE:WCN) by 6.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 308,062 shares of the business services provider’s stock after selling 20,066 shares during the period. TimesSquare Capital Management LLC’s holdings in Waste Connections were worth $57,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of WCN. Ballentine Partners LLC purchased a new stake in Waste Connections in the 1st quarter worth approximately $221,000. CWM LLC lifted its stake in shares of Waste Connections by 6.1% during the 1st quarter. CWM LLC now owns 1,335 shares of the business services provider’s stock worth $261,000 after purchasing an additional 77 shares during the period. Signaturefd LLC boosted its holdings in shares of Waste Connections by 8.9% during the first quarter. Signaturefd LLC now owns 2,643 shares of the business services provider’s stock worth $516,000 after purchasing an additional 215 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of Waste Connections by 17.4% in the first quarter. Apollon Wealth Management LLC now owns 2,528 shares of the business services provider’s stock valued at $493,000 after purchasing an additional 374 shares during the period. Finally, Wealthfront Advisers LLC increased its stake in Waste Connections by 6.3% in the first quarter. Wealthfront Advisers LLC now owns 28,458 shares of the business services provider’s stock valued at $5,555,000 after purchasing an additional 1,682 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus decreased their price target on Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. CIBC reiterated an “outperform” rating on shares of Waste Connections in a report on Friday, July 25th. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Scotiabank reiterated an “outperform” rating and issued a $210.00 target price on shares of Waste Connections in a report on Thursday, October 23rd. Finally, Barclays reissued a “negative” rating on shares of Waste Connections in a research report on Thursday, October 23rd. Five equities research 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $210.63.

Waste Connections Stock Up 0.9%

Shares of Waste Connections stock opened at $167.37 on Wednesday. The company has a fifty day moving average price of $173.10 and a 200 day moving average price of $183.04. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a twelve month low of $163.27 and a twelve month high of $201.66. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of 69.74, a price-to-earnings-growth ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating 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 company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company posted $1.35 earnings per share. 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. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio (DPR) is currently 58.33%.

Insider Transactions at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the sale, the director owned 14,883 shares in the company, valued at $2,596,190.52. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.28% of the stock is owned by company insiders.

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.