Waste Connections, Inc. $WCN Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 108,210 shares of the business services provider’s stock after buying an additional 6,699 shares during the period. SG Americas Securities LLC’s holdings in Waste Connections were worth $20,205,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. 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 purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC boosted its position 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 period. Trust Co. of Toledo NA OH acquired a new position in Waste Connections during the 2nd quarter valued at approximately $51,000. Marshall & Sullivan Inc. WA bought a new position in Waste Connections during the 2nd quarter worth $70,000. Finally, Valley National Advisers Inc. increased its position in Waste Connections by 83.3% in the second quarter. Valley National Advisers Inc. now owns 396 shares of the business services provider’s stock worth $73,000 after buying an additional 180 shares during the period. Institutional investors own 86.09% of the company’s stock.

Insider Activity at Waste Connections

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Waste Connections in a report on Thursday. They set an “overweight” rating and a $186.00 price target for the company. CIBC reissued an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Citigroup decreased their target price on shares of Waste Connections from $199.00 to $196.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their price objective on Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Waste Connections presently has an average rating of “Buy” and an average target price of $208.67.

Waste Connections Stock Performance

Shares of WCN opened at $168.76 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day moving average is $172.38 and its 200-day moving average is $182.56. Waste Connections, Inc. has a 12-month low of $163.27 and a 12-month high of $201.66. The stock has a market capitalization of $43.21 billion, a P/E ratio of 70.32, a P/E/G ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last released its earnings results 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. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts anticipate 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. Stockholders of record on Wednesday, November 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 5th. 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.