Oppenheimer Asset Management Inc. Sells 3,583 Shares of Waste Connections, Inc. $WCN

Oppenheimer Asset Management Inc. lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,464 shares of the business services provider’s stock after selling 3,583 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Waste Connections were worth $9,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MQS Management LLC bought a new position in shares of Waste Connections during the 2nd quarter valued at about $625,000. Linden Thomas Advisory Services LLC boosted its holdings in shares of Waste Connections by 5.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 2,988 shares of the business services provider’s stock valued at $558,000 after purchasing an additional 143 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings 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 purchasing an additional 485 shares during the last quarter. R Squared Ltd boosted its holdings in shares of Waste Connections by 340.1% during the 2nd quarter. R Squared Ltd now owns 8,053 shares of the business services provider’s stock valued at $1,504,000 after purchasing an additional 6,223 shares during the last quarter. Finally, Klingman & Associates LLC bought a new position in shares of Waste Connections during the 2nd quarter valued at about $211,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $176.76 on Monday. The firm has a market cap of $45.36 billion, a PE ratio of 73.65, a price-to-earnings-growth ratio of 3.25 and a beta of 0.62. The firm’s 50 day simple moving average is $176.95 and its 200-day simple moving average is $185.40. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. 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 (NYSE:WCN) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company posted $1.35 earnings per share. The company’s quarterly revenue was up 5.1% 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 EPS for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be issued a $0.35 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 5th. Waste Connections’s dividend payout ratio is presently 52.50%.

Analyst Ratings Changes

WCN has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Friday. Stifel Nicolaus lowered their price target on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Waste Connections in a report on Thursday. UBS Group set a $195.00 price target on shares of Waste Connections and gave the company a “neutral” rating in a report on Thursday. Finally, Royal Bank Of Canada lowered 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 equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $210.63.

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.