Connor Clark & Lunn Investment Management Ltd. Sells 383,926 Shares of Waste Connections, Inc. $WCN

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 15.9% during the second quarter, HoldingsChannel.com reports. The firm owned 2,029,689 shares of the business services provider’s stock after selling 383,926 shares during the period. Waste Connections accounts for 1.3% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 14th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Connections were worth $379,396,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Waste Connections by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock worth $5,901,049,000 after buying an additional 954,242 shares in the last quarter. WCM Investment Management LLC increased its holdings in Waste Connections by 1.8% during the 2nd quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock worth $1,208,669,000 after acquiring an additional 117,939 shares during the period. Mackenzie Financial Corp lifted its stake in Waste Connections by 5.8% in the 1st quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider’s stock worth $892,023,000 after purchasing an additional 250,684 shares in the last quarter. TD Asset Management Inc lifted its stake in Waste Connections by 3.2% in the 2nd quarter. TD Asset Management Inc now owns 3,942,989 shares of the business services provider’s stock worth $735,169,000 after purchasing an additional 123,730 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Waste Connections by 2.7% in the 1st quarter. 1832 Asset Management L.P. now owns 3,863,120 shares of the business services provider’s stock valued at $754,042,000 after purchasing an additional 100,716 shares during the period. Hedge funds and other institutional investors 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 business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the sale, the director directly owned 14,883 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WCN. Stifel Nicolaus decreased their price target on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Citigroup decreased their target price on Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Raymond James Financial set a $213.00 price objective on Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Finally, National Bankshares lowered their target price on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $210.63.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $166.08 on Friday. The firm has a market capitalization of $42.52 billion, a PE ratio of 69.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.60. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a 12 month low of $164.37 and a 12 month high of $201.66. The business’s 50-day moving average price is $173.80 and its 200-day moving average price is $183.53.

Waste Connections (NYSE:WCN) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm earned $1.35 earnings per share. Waste Connections’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. Sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Wednesday, November 5th will be issued 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 dividend yield of 0.8%. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s payout ratio is 58.33%.

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.