Bessemer Group Inc. Has $2.83 Million Position in Waste Connections, Inc. $WCN

Bessemer Group Inc. boosted its position in Waste Connections, Inc. (NYSE:WCN) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,138 shares of the business services provider’s stock after purchasing an additional 239 shares during the period. Bessemer Group Inc.’s holdings in Waste Connections were worth $2,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ramirez Asset Management Inc. increased its holdings in Waste Connections by 122.0% in the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock valued at $38,000 after buying an additional 179 shares during the period. Valley National Advisers Inc. increased its stake in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock valued at $41,000 after buying an additional 151 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Waste Connections in the second quarter valued at about $51,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Waste Connections by 29.2% in the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider’s stock valued at $55,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Down 3.3%

Shares of NYSE:WCN opened at $168.37 on Thursday. The business’s 50 day simple moving average is $176.15 and its two-hundred day simple moving average is $184.96. The firm has a market cap of $43.11 billion, a P/E ratio of 70.15, a PEG ratio of 3.27 and a beta of 0.62. 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, Inc. has a 52-week low of $167.84 and a 52-week high of $201.66.

Waste Connections (NYSE:WCN) last announced its quarterly 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. The business had revenue of $2.47 billion for 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 quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. As a group, research analysts forecast 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 will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be issued a $0.35 dividend. This is a boost 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%. The ex-dividend date is Wednesday, November 5th. Waste Connections’s dividend payout ratio is 52.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WCN. Atb Cap Markets raised Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Citigroup decreased their price target on Waste Connections from $199.00 to $196.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Barclays reissued a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. National Bankshares decreased 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. Finally, Raymond James Financial set a $213.00 target price on Waste Connections and gave the company a “strong-buy” rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Waste Connections has a consensus rating of “Buy” and a consensus price target of $210.63.

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.