Resona Asset Management Co. Ltd. Purchases 3,714 Shares of Waste Connections, Inc. $WCN

Resona Asset Management Co. Ltd. boosted its position in shares of Waste Connections, Inc. (NYSE:WCN) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 99,749 shares of the business services provider’s stock after purchasing an additional 3,714 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Waste Connections were worth $18,617,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ramirez Asset Management Inc. lifted its stake in shares of Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Larson Financial Group LLC lifted its position in Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 179 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Waste Connections during the 2nd quarter valued at $51,000. Private Trust Co. NA increased its holdings in shares of Waste Connections by 89.5% in the 1st quarter. Private Trust Co. NA now owns 288 shares of the business services provider’s stock worth $56,000 after purchasing an additional 136 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Waste Connections in the second quarter worth $70,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Price Performance

NYSE WCN opened at $165.26 on Friday. The company has a 50-day moving average price of $174.18 and a 200-day moving average price of $183.83. Waste Connections, Inc. has a 52 week low of $164.37 and a 52 week 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. The firm has a market capitalization of $42.31 billion, a P/E ratio of 68.86, a PEG ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last announced its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business posted $1.35 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be paid a $0.35 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 5th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is currently 58.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WCN shares. Oppenheimer increased their price objective on Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada lowered their target price 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. Stifel Nicolaus reduced their price target on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Barclays reissued a “negative” rating on shares of Waste Connections in a report on Thursday, October 23rd. Finally, UBS Group set a $195.00 target price on shares of Waste Connections and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Waste Connections currently has an average rating of “Buy” and a consensus target price of $210.63.

Insider Buying and Selling

In related news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction on Tuesday, October 28th. The stock was 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 in the company, valued at approximately $2,596,190.52. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.

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.