Laurel Wealth Advisors LLC Purchases 3,158 Shares of Waste Connections, Inc. $WCN

Laurel Wealth Advisors LLC boosted its holdings in Waste Connections, Inc. (NYSE:WCN) by 18,576.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,175 shares of the business services provider’s stock after buying an additional 3,158 shares during the period. Laurel Wealth Advisors LLC’s holdings in Waste Connections were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Waste Connections in the 1st quarter valued at $623,155,000. Vanguard Group Inc. grew its position in Waste Connections by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock worth $5,901,049,000 after buying an additional 954,242 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Waste Connections by 195.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock worth $224,961,000 after buying an additional 762,468 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Waste Connections in the 2nd quarter worth about $140,935,000. Finally, Montrusco Bolton Investments Inc. raised 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 in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Edward E. Guillet sold 9,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 14,883 shares of the company’s stock, valued at $2,596,190.52. This represents a 37.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by corporate insiders.

Waste Connections Trading Down 0.3%

NYSE:WCN opened at $176.55 on Friday. Waste Connections, Inc. has a one year low of $163.27 and a one year high of $201.66. The business has a fifty day moving average price of $172.12 and a 200-day moving average price of $181.17. The firm has a market capitalization of $45.17 billion, a price-to-earnings ratio of 73.56, a price-to-earnings-growth 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.

Waste Connections (NYSE:WCN) last released its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, beating 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 company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company earned $1.35 EPS. Waste Connections’s revenue for the quarter was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.35 per share. This is an increase from Waste Connections’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 5th. Waste Connections’s payout ratio is presently 58.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WCN. Scotiabank reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Waste Connections in a research note 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 report on Tuesday, October 7th. Wells Fargo & Company began coverage on Waste Connections in a research report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 price objective on the stock. Raymond James Financial set a $213.00 target price on Waste Connections and gave the company a “strong-buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $208.32.

About Waste Connections

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.