Groupama Asset Managment Increases Position in Waste Connections, Inc. $WCN

Groupama Asset Managment increased its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,171 shares of the business services provider’s stock after purchasing an additional 2,794 shares during the quarter. Groupama Asset Managment’s holdings in Waste Connections were worth $7,096,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new position in Waste Connections in the second quarter worth about $39,000. Trust Co. of Toledo NA OH bought a new stake in shares of Waste Connections in the 2nd quarter valued at about $51,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Waste Connections in the 2nd quarter worth approximately $70,000. Valley National Advisers Inc. raised its stake in shares of Waste Connections by 83.3% during the 2nd quarter. Valley National Advisers Inc. now owns 396 shares of the business services provider’s stock worth $73,000 after acquiring an additional 180 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in Waste Connections during the first quarter valued at approximately $87,000. Institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup cut their price target on shares of Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Stifel Nicolaus dropped their target price on Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Oppenheimer upped their target price on Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Raymond James Financial set a $213.00 price target on Waste Connections and gave the company a “strong-buy” rating in a research note on Monday, October 6th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $208.32.

Insider Transactions at Waste Connections

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the completion of the sale, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. The trade was a 37.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.

Waste Connections Price Performance

NYSE WCN opened at $176.95 on Friday. The company has a market cap of $45.27 billion, a price-to-earnings ratio of 73.73, a PEG ratio of 3.17 and a beta of 0.60. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s fifty day moving average price is $172.07 and its 200 day moving average price is $181.24. Waste Connections, Inc. has a 1 year low of $163.27 and a 1 year high of $201.66.

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, topping analysts’ consensus estimates of $1.38 by $0.06. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Wednesday, November 5th were issued a $0.35 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio is currently 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.