Quantbot Technologies LP Invests $11.09 Million in Waste Connections, Inc. $WCN

Quantbot Technologies LP purchased a new stake in shares of Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 59,410 shares of the business services provider’s stock, valued at approximately $11,093,000.

A number of other large investors also recently bought and sold shares of the stock. Calamos Wealth Management LLC purchased a new stake in Waste Connections in the 2nd quarter worth $2,055,000. Cidel Asset Management Inc. raised its position in shares of Waste Connections by 3.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 136,991 shares of the business services provider’s stock worth $25,539,000 after purchasing an additional 4,340 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Waste Connections in the 2nd quarter valued at about $63,385,000. Assetmark Inc. boosted its holdings in Waste Connections by 84.2% in the 2nd quarter. Assetmark Inc. now owns 1,413 shares of the business services provider’s stock worth $264,000 after buying an additional 646 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Waste Connections by 7.5% during the second quarter. Swiss National Bank now owns 782,145 shares of the business services provider’s stock valued at $146,042,000 after acquiring an additional 54,400 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Down 1.4%

WCN opened at $174.15 on Tuesday. The company has a market cap of $44.56 billion, a price-to-earnings ratio of 72.56, a PEG ratio of 3.17 and a beta of 0.60. Waste Connections, Inc. has a one year low of $163.27 and a one year high of $201.66. The business’s fifty day moving average is $172.15 and its two-hundred day moving average is $180.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. 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 was paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, November 5th. Waste Connections’s payout ratio is 58.33%.

Wall Street Analyst Weigh In

Several research analysts recently commented on WCN shares. Wells Fargo & Company initiated coverage on Waste Connections in a research note on Thursday, November 13th. They issued an “overweight” rating and a $186.00 price objective for the company. National Bankshares reduced their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Oppenheimer raised their price target on shares of Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Barclays restated a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Waste Connections has an average rating of “Buy” and a consensus price target of $208.32.

Insider Activity at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.