Valley National Advisers Inc. Grows Position in Waste Connections, Inc. $WCN

Valley National Advisers Inc. raised its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 83.3% during the second quarter, HoldingsChannel reports. The firm owned 396 shares of the business services provider’s stock after purchasing an additional 180 shares during the quarter. Valley National Advisers Inc.’s holdings in Waste Connections were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WCN. Appleton Partners Inc. MA grew its holdings in shares of Waste Connections by 0.8% during the second quarter. Appleton Partners Inc. MA now owns 49,805 shares of the business services provider’s stock valued at $9,300,000 after buying an additional 419 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Waste Connections by 15.3% during the 2nd quarter. DAVENPORT & Co LLC now owns 2,071 shares of the business services provider’s stock worth $386,000 after acquiring an additional 275 shares during the period. QRG Capital Management Inc. grew its stake in Waste Connections by 11.6% during the 2nd quarter. QRG Capital Management Inc. now owns 18,067 shares of the business services provider’s stock valued at $3,373,000 after purchasing an additional 1,879 shares during the last quarter. Ascent Group LLC grew its stake in Waste Connections by 326.3% during the 2nd quarter. Ascent Group LLC now owns 6,352 shares of the business services provider’s stock valued at $1,186,000 after purchasing an additional 4,862 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Waste Connections by 22.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,030 shares of the business services provider’s stock valued at $752,000 after purchasing an additional 747 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Stock Down 0.2%

WCN stock opened at $174.15 on Tuesday. The firm has a market cap of $44.69 billion, a PE ratio of 70.22, a P/E/G ratio of 3.15 and a beta of 0.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s fifty day moving average is $180.93 and its 200 day moving average is $187.19. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66.

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

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. Waste Connections’s dividend payout ratio (DPR) is presently 50.81%.

Analysts Set New Price Targets

A number of brokerages recently commented on WCN. Citigroup dropped their target price on Waste Connections from $204.00 to $199.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Stifel Nicolaus initiated coverage on shares of Waste Connections in a report on Tuesday, September 30th. They issued a “buy” rating and a $221.00 price objective on the stock. Scotiabank increased their price objective on shares of Waste Connections from $202.00 to $208.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Royal Bank Of Canada lowered their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Finally, Raymond James Financial set a $213.00 price target on Waste Connections and gave the stock a “strong-buy” rating in a research report on Monday. Five analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $213.79.

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.