IFP Advisors Inc Increases Stake in Waste Connections, Inc. $WCN

IFP Advisors Inc grew its stake in Waste Connections, Inc. (NYSE:WCN) by 81.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 913 shares of the business services provider’s stock after buying an additional 411 shares during the quarter. IFP Advisors Inc’s holdings in Waste Connections were worth $170,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in WCN. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Waste Connections by 19.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider’s stock valued at $1,379,000 after buying an additional 1,137 shares during the period. Praxis Investment Management Inc. boosted its stake in shares of Waste Connections by 91.6% in the 1st quarter. Praxis Investment Management Inc. now owns 4,350 shares of the business services provider’s stock valued at $849,000 after buying an additional 2,080 shares during the period. Cassia Capital Partners LLC raised its position in shares of Waste Connections by 6.3% during the 1st quarter. Cassia Capital Partners LLC now owns 5,655 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 335 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Waste Connections by 41.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider’s stock worth $3,843,000 after acquiring an additional 5,733 shares in the last quarter. Finally, Palumbo Wealth Management LLC raised its position in shares of Waste Connections by 22.1% during the 1st quarter. Palumbo Wealth Management LLC now owns 3,414 shares of the business services provider’s stock worth $665,000 after acquiring an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WCN shares. Royal Bank Of Canada cut their target price on Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Citigroup cut their target price on Waste Connections from $204.00 to $199.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 17th. Barclays started coverage on Waste Connections in a research report on Friday, September 19th. They set an “equal weight” rating and a $192.00 target price on the stock. Atb Cap Markets raised Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial set a $213.00 target price on Waste Connections and gave the stock a “strong-buy” rating in a research report on Monday, October 6th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $210.38.

Waste Connections Trading Up 1.1%

Shares of WCN stock opened at $172.68 on Friday. The business’s 50 day moving average is $178.03 and its two-hundred day moving average is $185.94. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66. The company has a market capitalization of $44.31 billion, a P/E ratio of 69.63, a price-to-earnings-growth ratio of 3.11 and a beta of 0.62. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the business posted $1.24 EPS. The company’s revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Equities analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 6th. Waste Connections’s dividend payout ratio (DPR) 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.