Waste Connections, Inc. $WCN Shares Bought by Carderock Capital Management Inc.

Carderock Capital Management Inc. boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 0.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,542 shares of the business services provider’s stock after purchasing an additional 95 shares during the period. Waste Connections makes up about 2.3% of Carderock Capital Management Inc.’s portfolio, making the stock its 17th biggest position. Carderock Capital Management Inc.’s holdings in Waste Connections were worth $8,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC grew its holdings in shares of Waste Connections by 37.3% during the first quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider’s stock valued at $350,000 after buying an additional 488 shares during the last quarter. Private Trust Co. NA lifted its position in Waste Connections by 89.5% during the 1st quarter. Private Trust Co. NA now owns 288 shares of the business services provider’s stock worth $56,000 after acquiring an additional 136 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Waste Connections by 19.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider’s stock valued at $1,379,000 after purchasing an additional 1,137 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Waste Connections by 41.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider’s stock valued at $3,843,000 after purchasing an additional 5,733 shares during the period. Finally, Premier Fund Managers Ltd raised its stake in shares of Waste Connections by 10.0% in the first quarter. Premier Fund Managers Ltd now owns 331,088 shares of the business services provider’s stock worth $63,841,000 after purchasing an additional 30,136 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WCN shares. Melius started coverage on shares of Waste Connections in a report on Monday, June 9th. They issued a “buy” rating on the stock. Raymond James Financial dropped their price objective on shares of Waste Connections from $224.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Waste Connections from $197.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Atb Cap Markets upgraded shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Finally, CIBC reaffirmed an “outperform” rating on shares of Waste Connections in a report on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $215.00.

Waste Connections Price Performance

NYSE:WCN opened at $176.19 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50 day moving average price of $184.25 and a 200-day moving average price of $188.90. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The firm has a market cap of $45.30 billion, a price-to-earnings ratio of 71.04, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were given a dividend of $0.315 per share. The ex-dividend date was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections’s dividend payout ratio (DPR) is 50.81%.

Waste Connections Company 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.