Geode Capital Management LLC Has $149.96 Million Holdings in Waste Connections, Inc. $WCN

Geode Capital Management LLC grew its position in shares of Waste Connections, Inc. (NYSE:WCN) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 772,011 shares of the business services provider’s stock after purchasing an additional 133,487 shares during the quarter. Geode Capital Management LLC owned about 0.30% of Waste Connections worth $149,957,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC raised its stake in Waste Connections by 6.1% during the first quarter. CWM LLC now owns 1,335 shares of the business services provider’s stock worth $261,000 after buying an additional 77 shares during the last quarter. Larson Financial Group LLC grew its holdings 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 worth $38,000 after acquiring an additional 179 shares during the period. PFG Advisors raised its position in shares of Waste Connections by 46.5% in the 1st quarter. PFG Advisors now owns 24,267 shares of the business services provider’s stock worth $4,734,000 after acquiring an additional 7,705 shares in the last quarter. Choreo LLC lifted its stake in shares of Waste Connections by 4.1% in the 1st quarter. Choreo LLC now owns 4,700 shares of the business services provider’s stock valued at $917,000 after purchasing an additional 184 shares during the period. Finally, Summit Asset Management LLC bought a new stake in shares of Waste Connections during the 1st quarter valued at about $216,000. 86.09% of the stock is owned by institutional investors.

Waste Connections Trading Up 1.8%

WCN opened at $172.28 on Wednesday. Waste Connections, Inc. has a fifty-two week low of $163.27 and a fifty-two week high of $201.66. The firm has a market capitalization of $44.08 billion, a PE ratio of 71.78, a P/E/G ratio of 3.17 and a beta of 0.60. 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 company’s 50-day moving average is $172.09 and its 200 day moving average is $182.09.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, research analysts predict 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. Investors of record on Wednesday, November 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 5th. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s payout ratio is currently 58.33%.

Insiders Place Their Bets

In other Waste Connections 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 transaction of $1,569,960.00. Following the transaction, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WCN shares. National Bankshares lowered their target price on Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Stifel Nicolaus lowered their price objective on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Royal Bank Of Canada dropped their target price on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Finally, Sanford C. Bernstein began coverage on shares of Waste Connections in a research note on Wednesday, November 12th. They issued an “outperform” rating and a $200.00 price target for the company. Five research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $208.67.

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.