Jennison Associates LLC Has $2.50 Million Position in Waste Connections, Inc. $WCN

Jennison Associates LLC lowered its stake in Waste Connections, Inc. (NYSE:WCN) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,406 shares of the business services provider’s stock after selling 799 shares during the period. Jennison Associates LLC’s holdings in Waste Connections were worth $2,503,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GWN Securities Inc. acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $424,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Waste Connections by 29.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 151,800 shares of the business services provider’s stock valued at $28,344,000 after purchasing an additional 34,700 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Waste Connections by 17.2% in the second quarter. Teacher Retirement System of Texas now owns 496,110 shares of the business services provider’s stock valued at $92,634,000 after purchasing an additional 72,803 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Waste Connections in the second quarter valued at approximately $10,499,000. Finally, Bessemer Group Inc. boosted its stake in Waste Connections by 1.6% in the second quarter. Bessemer Group Inc. now owns 15,138 shares of the business services provider’s stock valued at $2,827,000 after acquiring an additional 239 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Buying and Selling at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction on 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 transaction, the director directly owned 14,883 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

Waste Connections Trading Down 1.9%

Shares of NYSE WCN opened at $167.66 on Friday. The company’s fifty day moving average is $175.50 and its 200-day moving average is $184.59. The stock has a market cap of $42.92 billion, a price-to-earnings ratio of 69.86, a P/E/G ratio of 3.17 and a beta of 0.62. Waste Connections, Inc. has a twelve month low of $167.47 and a twelve month high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07.

Waste Connections (NYSE:WCN) last announced 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. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be given a dividend of $0.35 per share. 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%. The ex-dividend date of this dividend is Wednesday, November 5th. Waste Connections’s payout ratio is 58.33%.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of recent research reports. Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Royal Bank Of Canada reduced their price objective on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. CIBC reaffirmed an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Finally, UBS Group set a $195.00 price objective on shares of Waste Connections and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Five equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.