Waste Connections, Inc. $WCN Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in Waste Connections, Inc. (NYSE:WCN) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,494 shares of the business services provider’s stock after selling 27,844 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Waste Connections were worth $87,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in Waste Connections in the first quarter valued at about $623,155,000. Vanguard Group Inc. boosted its position in shares of Waste Connections by 3.3% in 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 during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Waste Connections by 195.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock valued at $224,961,000 after buying an additional 762,468 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Waste Connections by 45.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider’s stock valued at $316,532,000 after buying an additional 502,986 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Waste Connections by 56.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,147,904 shares of the business services provider’s stock valued at $223,779,000 after buying an additional 413,212 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Down 0.4%

Shares of Waste Connections stock opened at $172.19 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $179.32 and a 200 day moving average price of $186.49. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The firm has a market cap of $44.18 billion, a P/E ratio of 69.43, a P/E/G ratio of 3.15 and a beta of 0.62.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

WCN has been the subject of several recent research reports. Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. National Bankshares lowered their price target on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Barclays began coverage on Waste Connections in a research note on Friday, September 19th. They set an “equal weight” rating and a $192.00 target price for the company. Finally, Citigroup reduced their price target on Waste Connections from $204.00 to $199.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Waste Connections presently has an average rating of “Buy” and a consensus price target of $211.73.

Waste Connections 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.