Apollon Wealth Management LLC Raises Position in Waste Connections, Inc. $WCN

Apollon Wealth Management LLC boosted its stake in Waste Connections, Inc. (NYSE:WCN) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,687 shares of the business services provider’s stock after buying an additional 159 shares during the period. Apollon Wealth Management LLC’s holdings in Waste Connections were worth $501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. DAVENPORT & Co LLC lifted its holdings in shares of Waste Connections by 37.3% during the first quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider’s stock valued at $350,000 after purchasing an additional 488 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Waste Connections by 89.5% during the first quarter. Private Trust Co. NA now owns 288 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 136 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Waste Connections by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider’s stock valued at $1,379,000 after purchasing an additional 1,137 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Waste Connections by 41.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider’s stock valued at $3,843,000 after purchasing an additional 5,733 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Waste Connections during the first quarter valued at approximately $3,281,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Trading Up 0.6%

Shares of WCN stock opened at $170.80 on Friday. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The firm has a fifty day moving average price of $178.34 and a 200-day moving average price of $186.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $43.83 billion, a price-to-earnings ratio of 68.87, a PEG ratio of 3.09 and a beta of 0.62.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. National Bankshares lowered their target price on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Stifel Nicolaus started coverage on shares of Waste Connections in a report on Tuesday, September 30th. They issued a “buy” rating and a $221.00 price objective for the company. Barclays started coverage on shares of Waste Connections in a research report on Friday, September 19th. They issued an “equal weight” rating and a $192.00 target price for the company. Finally, CIBC reaffirmed an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $210.38.

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.