Waste Connections, Inc. $WCN Stock Holdings Decreased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. reduced its position in Waste Connections, Inc. (NYSE:WCN) by 59.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214 shares of the business services provider’s stock after selling 1,786 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Waste Connections were worth $227,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Atria Investments Inc increased its position in shares of Waste Connections by 1.0% in the second quarter. Atria Investments Inc now owns 8,016 shares of the business services provider’s stock worth $1,497,000 after acquiring an additional 81 shares in the last quarter. Assetmark Inc. increased its position in shares of Waste Connections by 84.2% in the second quarter. Assetmark Inc. now owns 1,413 shares of the business services provider’s stock worth $264,000 after acquiring an additional 646 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of Waste Connections by 10.0% in the second quarter. Arkadios Wealth Advisors now owns 1,613 shares of the business services provider’s stock worth $301,000 after acquiring an additional 147 shares in the last quarter. World Investment Advisors purchased a new position in Waste Connections during the second quarter valued at approximately $396,000. Finally, GWN Securities Inc. purchased a new position in Waste Connections during the second quarter valued at approximately $424,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Price Performance

NYSE WCN opened at $167.66 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $42.92 billion, a PE ratio of 69.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62. The company has a 50 day moving average price of $175.50 and a two-hundred day moving average price of $184.51. Waste Connections, Inc. has a 12-month low of $167.47 and a 12-month high of $201.66.

Waste Connections (NYSE:WCN) last posted its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 5th. Waste Connections’s dividend payout ratio is presently 58.33%.

Insider Transactions at Waste Connections

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the sale, the director directly owned 14,883 shares in the company, valued at $2,596,190.52. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

WCN has been the topic of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Waste Connections in a research report on Thursday, October 23rd. National Bankshares lowered their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Stifel Nicolaus lowered their price objective on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Citigroup lowered their price objective on shares of Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, Oppenheimer boosted their price objective on shares of Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $210.63.

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.