Vestmark Advisory Solutions Inc. Makes New $382,000 Investment in Waste Connections, Inc. $WCN

Vestmark Advisory Solutions Inc. bought a new position in Waste Connections, Inc. (NYSE:WCN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,047 shares of the business services provider’s stock, valued at approximately $382,000.

Several other hedge funds have also modified their holdings of WCN. Vanguard Group Inc. boosted its holdings in Waste Connections by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock worth $5,901,049,000 after acquiring an additional 954,242 shares during the period. WCM Investment Management LLC boosted its stake in shares of Waste Connections by 1.8% in the second quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock valued at $1,208,669,000 after purchasing an additional 117,939 shares during the period. Mackenzie Financial Corp increased its stake in Waste Connections by 5.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider’s stock worth $892,023,000 after buying an additional 250,684 shares during the period. TD Asset Management Inc lifted its holdings 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 buying an additional 123,730 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position 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 buying an additional 100,716 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Edward E. Guillet sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was 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 owned 14,883 shares in the company, valued at $2,596,190.52. This represents a 37.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.28% of the stock is owned by company insiders.

Waste Connections Stock Performance

Shares of WCN stock opened at $169.47 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a 12-month low of $163.27 and a 12-month high of $201.66. The business has a 50 day simple moving average of $172.87 and a 200 day simple moving average of $182.94. The firm has a market capitalization of $43.39 billion, a price-to-earnings ratio of 70.42, a price-to-earnings-growth ratio of 3.17 and a beta of 0.60.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The company 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 is a positive change from Waste Connections’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is presently 58.33%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. 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. Citigroup cut their target price on Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. National Bankshares dropped their price target on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $210.00.

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.