Employees Retirement System of Texas Acquires New Position in Waste Connections, Inc. $WCN

Employees Retirement System of Texas bought a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,031 shares of the business services provider's stock, valued at approximately $1,500,000.

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A number of other hedge funds also recently added to or reduced their stakes in WCN. AlphaCore Capital LLC purchased a new stake in shares of Waste Connections during the 2nd quarter worth approximately $39,000. Trust Co. of Toledo NA OH purchased a new position in Waste Connections in the 2nd quarter valued at approximately $51,000. Marshall & Sullivan Inc. WA acquired a new position in Waste Connections during the second quarter worth $70,000. Valley National Advisers Inc. boosted its position in Waste Connections by 83.3% during the second quarter. Valley National Advisers Inc. now owns 396 shares of the business services provider's stock worth $73,000 after purchasing an additional 180 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in Waste Connections during the first quarter worth $87,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $176.95 on Friday. The company has a 50-day simple moving average of $172.07 and a 200-day simple moving average of $181.24. 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 company has a market cap of $45.27 billion, a PE ratio of 73.73, a price-to-earnings-growth ratio of 3.17 and a beta of 0.60. Waste Connections, Inc. has a 12 month low of $163.27 and a 12 month high of $201.66.

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Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. The company's quarterly revenue was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. This is a positive change from Waste Connections's previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, November 5th. Waste Connections's payout ratio is 58.33%.

Insider Activity at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WCN shares. UBS Group set a $195.00 price target on Waste Connections and gave the stock a "neutral" rating in a research note on Thursday, October 23rd. Wells Fargo & Company began coverage on shares of Waste Connections in a report on Thursday, November 13th. They set an "overweight" rating and a $186.00 target price for the company. Citigroup cut their target price on shares of Waste Connections from $199.00 to $196.00 and set a "neutral" rating for the company in a research report on Thursday, October 23rd. Sanford C. Bernstein initiated coverage on shares of Waste Connections in a research report on Wednesday, November 12th. They issued an "outperform" rating and a $200.00 price target on the stock. Finally, Barclays reissued a "negative" rating on shares of Waste Connections in a research note on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Waste Connections currently has an average rating of "Buy" and an average target price of $208.32.

View Our Latest Research Report on WCN

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.

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