Waste Connections, Inc. $WCN Position Increased by Bluegrass Capital Partners LP

Bluegrass Capital Partners LP lifted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 57.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the business services provider’s stock after purchasing an additional 8,000 shares during the quarter. Waste Connections accounts for approximately 2.8% of Bluegrass Capital Partners LP’s portfolio, making the stock its 10th largest position. Bluegrass Capital Partners LP’s holdings in Waste Connections were worth $4,108,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Journey Strategic Wealth LLC bought a new stake in Waste Connections during the second quarter valued at approximately $296,000. Franklin Resources Inc. raised its position in shares of Waste Connections by 16.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,340,020 shares of the business services provider’s stock valued at $250,239,000 after buying an additional 189,076 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Waste Connections by 15.0% during the 2nd quarter. MAI Capital Management now owns 1,283 shares of the business services provider’s stock worth $240,000 after acquiring an additional 167 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Waste Connections in the second quarter worth $206,000. Finally, DNB Asset Management AS increased its stake in Waste Connections by 31.1% in the second quarter. DNB Asset Management AS now owns 67,169 shares of the business services provider’s stock valued at $12,542,000 after acquiring an additional 15,919 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WCN. National Bankshares dropped their price target on Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Barclays restated a “negative” rating on shares of Waste Connections in a research report on Thursday, October 23rd. CIBC reiterated an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. Scotiabank restated an “outperform” rating and issued a $210.00 price objective on shares of Waste Connections in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada cut their price objective on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Waste Connections presently has a consensus rating of “Buy” and a consensus price target of $208.67.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $175.38 on Friday. The stock has a market capitalization of $44.87 billion, a P/E ratio of 73.08, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50 day simple moving average is $171.96 and its two-hundred day simple moving average is $181.82.

Waste Connections (NYSE:WCN) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business earned $1.35 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were given a $0.35 dividend. The ex-dividend date was Wednesday, November 5th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is presently 58.33%.

Insider Activity at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of the stock in a transaction dated Tuesday, October 28th. The shares were 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 approximately $2,596,190.52. This represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.