Nordea Investment Management AB Reduces Holdings in Waste Connections, Inc. $WCN

Nordea Investment Management AB decreased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 44.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 123,062 shares of the business services provider’s stock after selling 97,239 shares during the period. Nordea Investment Management AB’s holdings in Waste Connections were worth $22,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC lifted its holdings in shares of Waste Connections by 1.8% during the second quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock worth $1,208,669,000 after purchasing an additional 117,939 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Waste Connections by 674.6% during the second quarter. Allianz Asset Management GmbH now owns 502,675 shares of the business services provider’s stock worth $93,710,000 after purchasing an additional 437,783 shares during the period. Tuttle Capital Management LLC lifted its holdings in shares of Waste Connections by 14.9% during the second quarter. Tuttle Capital Management LLC now owns 3,606 shares of the business services provider’s stock worth $673,000 after purchasing an additional 468 shares during the period. Equitable Trust Co. lifted its holdings in shares of Waste Connections by 2.3% during the second quarter. Equitable Trust Co. now owns 12,068 shares of the business services provider’s stock worth $2,253,000 after purchasing an additional 276 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Waste Connections by 3.2% during the second quarter. TD Asset Management Inc now owns 3,942,989 shares of the business services provider’s stock worth $735,169,000 after purchasing an additional 123,730 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on WCN shares. National Bankshares decreased their target price on Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Raymond James Financial set a $213.00 target price on Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. UBS Group set a $190.00 target price on Waste Connections and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus started coverage on Waste Connections in a report on Tuesday, September 30th. They issued a “buy” rating and a $221.00 price target for the company. Finally, Oppenheimer decreased their price target on Waste Connections from $210.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $210.38.

Waste Connections Trading Up 1.1%

Shares of NYSE:WCN opened at $172.68 on Monday. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The company has a market capitalization of $44.31 billion, a PE ratio of 69.63, a PEG ratio of 3.15 and a beta of 0.62. The business has a 50 day moving average of $178.03 and a two-hundred day moving average of $185.77. 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 quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.Waste Connections’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. As a group, analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were given a $0.315 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections’s payout ratio is 50.81%.

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.