Tobam Sells 376 Shares of Waste Connections, Inc. $WCN

Tobam trimmed its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 42.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520 shares of the business services provider’s stock after selling 376 shares during the quarter. Tobam’s holdings in Waste Connections were worth $97,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Forsta AP Fonden raised its holdings in Waste Connections by 5.5% in the 2nd quarter. Forsta AP Fonden now owns 50,100 shares of the business services provider’s stock valued at $9,355,000 after acquiring an additional 2,600 shares during the period. CENTRAL TRUST Co raised its stake in Waste Connections by 6.3% in the 2nd quarter. CENTRAL TRUST Co now owns 8,221 shares of the business services provider’s stock worth $1,535,000 after purchasing an additional 484 shares in the last quarter. Vise Technologies Inc. bought a new stake in Waste Connections in the 2nd quarter valued at about $1,296,000. Altman Advisors Inc. increased its holdings in shares of Waste Connections by 3.2% during the second quarter. Altman Advisors Inc. now owns 11,412 shares of the business services provider’s stock worth $2,121,000 after purchasing an additional 356 shares during the period. Finally, PFG Advisors raised its position in shares of Waste Connections by 13.8% in the second quarter. PFG Advisors now owns 27,619 shares of the business services provider’s stock valued at $5,156,000 after buying an additional 3,352 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Insider Buying and Selling

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the sale, the director owned 14,883 shares in the company, valued at approximately $2,596,190.52. The trade was a 37.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus lowered their price objective on Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock 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 on the stock in a research report on Tuesday, October 7th. Barclays reaffirmed a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. UBS Group set a $195.00 price objective on shares of Waste Connections and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada cut their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $210.00.

Waste Connections Stock Up 0.9%

Shares of WCN opened at $168.87 on Thursday. 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 $163.27 and a 52 week high of $201.66. The stock has a market capitalization of $43.23 billion, a price-to-earnings ratio of 70.36, a PEG ratio of 3.17 and a beta of 0.60. The stock has a fifty day moving average of $172.87 and a 200-day moving average of $182.94.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The firm 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 business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share 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. Investors of record on Wednesday, November 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio is 58.33%.

Waste Connections 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.