Aviva PLC Has $36.05 Million Stake in Waste Connections, Inc. $WCN

Aviva PLC increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,058 shares of the business services provider’s stock after purchasing an additional 45,710 shares during the period. Aviva PLC owned approximately 0.07% of Waste Connections worth $36,048,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Nuveen LLC bought a new position in Waste Connections in the first quarter valued at approximately $623,155,000. Vanguard Group Inc. raised its holdings in shares of Waste Connections by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock worth $5,901,049,000 after acquiring an additional 954,242 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in Waste Connections by 195.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock valued at $224,961,000 after acquiring an additional 762,468 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock worth $419,451,000 after purchasing an additional 732,718 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Waste Connections by 45.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider’s stock worth $316,532,000 after purchasing an additional 502,986 shares in the last quarter. 86.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. National Bankshares reduced their price target on Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Citigroup lowered their price objective on shares of Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, Raymond James Financial set a $213.00 target price on shares of Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $210.63.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $166.08 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a 12-month low of $164.37 and a 12-month high of $201.66. The company’s 50 day moving average price is $173.80 and its two-hundred day moving average price is $183.44. The firm has a market cap of $42.52 billion, a PE ratio of 69.20, a PEG ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (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 analysts’ expectations of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company 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 earnings per share for the current 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 issued a dividend of $0.35 per share. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s payout ratio is currently 58.33%.

Insider Activity at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the firm’s 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 transaction, the director owned 14,883 shares in the company, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.

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.