Waste Connections, Inc. $WCN Stock Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its position in shares of Waste Connections, Inc. (NYSE:WCN) by 25.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,119 shares of the business services provider’s stock after buying an additional 5,959 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Waste Connections were worth $4,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Waste Connections by 0.9% during the 1st quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock worth $1,983,500,000 after purchasing an additional 106,763 shares during the period. BlackRock Inc. purchased a new stake in Waste Connections in the 2nd quarter valued at about $1,061,947,000. The Manufacturers Life Insurance Company raised its holdings in Waste Connections by 48.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider’s stock valued at $604,573,000 after buying an additional 1,219,056 shares during the period. Bank of America Corp DE acquired a new position in Waste Connections in the second quarter valued at about $510,526,000. Finally, Wellington Management Group LLP acquired a new position in Waste Connections in the second quarter valued at about $477,944,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Key Waste Connections News

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Analysts raised price targets: Deutsche Bank lifted its target from $191 to $205 and maintained a “buy” rating. Wells Fargo raised its target from $187 to $211 and upgraded its stance to “overweight,” while Scotiabank increased its target from $193 to $201 and retained a “sector outperform” rating. The targets imply approximately 8% to 13% upside from the referenced share price.
• Positive Sentiment: Third-quarter results exceeded expectations: Waste Connections reported adjusted earnings of $1.58 per share, up from $1.44 a year earlier and ahead of the $1.52 consensus estimate. Revenue rose 23.8% year over year to $2.64 billion, also surpassing analyst expectations. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management raised its outlook as landfill volumes improved, supporting expectations for continued revenue and profit growth. Acquisitions are also contributing to earnings growth and expanding the company’s disposal-services platform. Waste Connections Raises Outlook as Landfill Volumes Improve
• Positive Sentiment: Dividend increased 10%: Waste Connections raised its quarterly dividend to $0.385 per share from $0.35, equivalent to $1.54 annually. The increase signals confidence in cash flow and enhances shareholder returns. Waste Connections Raised Its Dividend 10%

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WCN. Morgan Stanley reiterated an “overweight” rating and set a $200.00 price target (up from $195.00) on shares of Waste Connections in a research report on Friday. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $207.00 price objective (up from $184.00) on shares of Waste Connections in a report on Friday. Barclays restated a “positive” rating and issued a $189.00 price objective (up from $187.00) on shares of Waste Connections in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $206.00 price objective on shares of Waste Connections in a research report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price (up from $193.00) on shares of Waste Connections in a report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.39.

Waste Connections Price Performance

WCN stock opened at $186.48 on Friday. The business’s fifty day moving average price is $161.75 and its 200 day moving average price is $161.73. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $187.27. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $46.72 billion, a PE ratio of 41.72, a P/E/G ratio of 3.28 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. Waste Connections’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 5.70 EPS for the current year.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.3850 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, November 5th. Waste Connections’s dividend payout ratio is currently 31.32%.

Insider Activity

In related news, SVP Robert Cloninger sold 2,811 shares of Waste Connections stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares in the company, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Philip Rivard sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president directly owned 734 shares in the company, valued at approximately $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by corporate insiders.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.