Waste Connections, Inc. $WCN Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Waste Connections, Inc. (NYSE:WCN) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 300,935 shares of the business services provider’s stock after selling 7,829 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.12% of Waste Connections worth $56,191,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Waste Connections by 1,515.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 517 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 485 shares during the last quarter. R Squared Ltd raised its holdings in Waste Connections by 340.1% in the 2nd quarter. R Squared Ltd now owns 8,053 shares of the business services provider’s stock valued at $1,504,000 after buying an additional 6,223 shares during the period. Klingman & Associates LLC purchased a new stake in Waste Connections in the 2nd quarter valued at about $211,000. Calamos Wealth Management LLC purchased a new stake in Waste Connections during the second quarter worth about $2,055,000. Finally, Cidel Asset Management Inc. increased its stake in Waste Connections by 3.3% during the second quarter. Cidel Asset Management Inc. now owns 136,991 shares of the business services provider’s stock worth $25,539,000 after purchasing an additional 4,340 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Trading Down 1.1%

Shares of WCN stock opened at $174.91 on Tuesday. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The stock has a market cap of $44.88 billion, a P/E ratio of 72.88, a P/E/G ratio of 3.25 and a beta of 0.62. The business has a fifty day simple moving average of $176.75 and a 200-day simple moving average of $185.27. 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, beating analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business posted $1.35 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This is an increase 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%. Waste Connections’s dividend payout ratio is 52.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WCN shares. CIBC reissued an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. UBS Group set a $195.00 price objective on Waste Connections and gave the company a “neutral” rating in a report on Thursday. National Bankshares cut 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. Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Finally, Scotiabank reiterated an “outperform” rating and issued a $210.00 price objective on shares of Waste Connections in a research report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $210.63.

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.