TD Asset Management Inc Raises Holdings in Waste Connections, Inc. $WCN

TD Asset Management Inc grew its position in shares of Waste Connections, Inc. (NYSE:WCN) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,942,989 shares of the business services provider’s stock after purchasing an additional 123,730 shares during the period. TD Asset Management Inc owned approximately 1.53% of Waste Connections worth $735,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB grew its position in shares of Waste Connections by 14.6% during the second quarter. Wilmington Savings Fund Society FSB now owns 4,513 shares of the business services provider’s stock valued at $843,000 after purchasing an additional 575 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Waste Connections by 8.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,778 shares of the business services provider’s stock valued at $892,000 after acquiring an additional 352 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Waste Connections by 1.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,719 shares of the business services provider’s stock valued at $1,068,000 after acquiring an additional 77 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock valued at $419,451,000 after acquiring an additional 732,718 shares during the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of Waste Connections by 14.2% in the 2nd quarter. MGO One Seven LLC now owns 7,291 shares of the business services provider’s stock valued at $1,361,000 after acquiring an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WCN. Scotiabank set a $208.00 price objective on shares of Waste Connections in a research note on Friday. Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the company a “strong-buy” rating in a research note on Monday, October 6th. Royal Bank Of Canada decreased their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. CIBC reaffirmed an “outperform” rating on shares of Waste Connections in a research note on Friday, July 25th. Finally, Citigroup decreased their price target on shares of Waste Connections from $204.00 to $199.00 and set a “neutral” rating for the company in a research note on Wednesday, September 17th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $211.73.

Waste Connections Stock Performance

Shares of WCN stock opened at $172.19 on Tuesday. The firm has a market cap of $44.18 billion, a price-to-earnings ratio of 69.43, a PEG ratio of 3.15 and a beta of 0.62. The company’s 50 day moving average is $179.32 and its 200 day moving average is $186.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66.

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 the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. Waste Connections’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were issued 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 50.81%.

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.