Royal Bank of Canada Boosts Position in Waste Connections, Inc. $WCN

Royal Bank of Canada increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,210,661 shares of the business services provider’s stock after purchasing an additional 106,763 shares during the period. Royal Bank of Canada’s holdings in Waste Connections were worth $1,983,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. City Holding Co. acquired a new stake in Waste Connections during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections during the third quarter worth $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after buying an additional 175 shares during the period. Transamerica Financial Advisors LLC grew its holdings in shares of Waste Connections by 346.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections in the fourth quarter worth $36,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Waste Connections

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Waste Connections received a favorable long-term assessment for its disciplined capital allocation, strong customer retention and focus on secondary and exclusive markets. Adjusted EBITDA margins expanded from 31.5% in 2023 to 33.0% in 2025, while free cash flow growth has outpaced revenue growth. Waste Connections: Turning Moderate Growth Into Exceptional Shareholder Returns
• Positive Sentiment: The company’s artificial-intelligence initiatives are beginning to support profitability. AI-assisted pricing is reportedly generating approximately $20 million in annualized EBITDA, with routing tools being tested to drive further efficiency and margin expansion. How Waste Connections Is Using AI to Expand Margins and Future Growth
• Neutral Sentiment: Barclays raised its price target for WCN from $180 to $187 but maintained an “equal weight” rating. The higher target indicates greater valuation support, although the rating suggests the firm sees limited near-term outperformance versus the broader market. Barclays Raises Waste Connections Price Target
• Neutral Sentiment: Waste Connections priced C$700 million of senior notes, including 4.200% notes due 2033 and additional notes due 2036. The financing provides capital for corporate purposes but increases interest obligations and leverage considerations. Waste Connections Announces Pricing of C$700 Million of Senior Notes
• Negative Sentiment: Analysts noted that WCN’s strong second-quarter earnings beat, higher 2026 revenue outlook and improved cash flow may already be reflected in its premium valuation. Debt levels and a high earnings multiple could limit additional upside, helping explain the muted reaction following the results. Is WCN Stock Worth Its Premium Valuation After Strong Q2 Results?

Waste Connections Stock Performance

Shares of WCN opened at $169.12 on Wednesday. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $42.68 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.91 and a beta of 0.49. The company has a 50-day moving average of $161.80 and a two-hundred day moving average of $163.18.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.Waste Connections’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. On average, equities research analysts expect that Waste Connections, Inc. will post 5.61 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s payout ratio is currently 33.73%.

Insider Buying and Selling

In other news, VP Patrick James Shea sold 7,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric Hansen sold 6,000 shares of Waste Connections stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $164.82, for a total value of $988,920.00. Following the sale, the senior vice president directly owned 13,350 shares in the company, valued at approximately $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,000 shares of company stock worth $2,395,755 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on WCN shares. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and set a $211.00 price target on shares of Waste Connections in a research report on Thursday, April 23rd. Weiss Ratings cut shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Barclays increased their target price on shares of Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Citigroup boosted their price target on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.42.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.