30,682 Waste Connections, Inc. $WCN Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP cut its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 27.9% in the third quarter, Holdings Channel reports. The institutional investor owned 79,251 shares of the business services provider’s stock after selling 30,682 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Waste Connections were worth $12,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. XXEC Inc. bought a new stake in shares of Waste Connections in the second quarter valued at approximately $164,870,000. Royal Bank of Canada increased its position in Waste Connections by 0.9% during the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock worth $1,983,500,000 after acquiring an additional 106,763 shares during the period. BlackRock Inc. bought a new position in Waste Connections during the second quarter worth $1,061,947,000. The Manufacturers Life Insurance Company increased its position in Waste Connections by 48.7% during the first quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider’s stock worth $604,573,000 after acquiring an additional 1,219,056 shares during the period. Finally, Bank of America Corp DE acquired a new position in Waste Connections during the 2nd quarter valued at $510,526,000. 86.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on WCN shares. JPMorgan Chase & Co. cut their target price on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Citigroup decreased their price target on shares of Waste Connections from $182.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday. TD Cowen restated a “buy” rating and set a $210.00 price objective (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th. Scotiabank set a $193.00 price objective on shares of Waste Connections in a report on Thursday. Finally, Raymond James Financial set a $189.00 price objective on shares of Waste Connections in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Waste Connections has an average rating of “Moderate Buy” and a consensus price target of $198.61.

Waste Connections Trading Up 5.6%

Waste Connections stock opened at $165.62 on Friday. The business has a 50 day moving average price of $160.81 and a two-hundred day moving average price of $161.29. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $179.74. The stock has a market cap of $41.57 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.75 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm earned $1.29 EPS. Waste Connections’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts forecast that Waste Connections, Inc. will post 5.65 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, August 6th. Waste Connections’s dividend payout ratio is presently 33.73%.

Insider Buying and Selling at Waste Connections

In other news, SVP Philip Rivard sold 2,500 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the transaction, the senior vice president owned 734 shares in the company, valued at approximately $122,262.38. This represents a 77.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Cloninger sold 2,811 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the sale, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by company insiders.

Key Headlines Impacting Waste Connections

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

• Positive Sentiment: Bernstein initiated or reiterated a Buy rating on Waste Connections, providing a positive analyst endorsement. Waste Connections Receives a Buy from Bernstein
• Positive Sentiment: Zacks identified WCN as a top-ranked momentum stock, suggesting favorable recent price and trading trends that could attract growth and momentum investors. Waste Connections Is a Top-Ranked Momentum Stock
• Positive Sentiment: Waste Connections was featured among dividend stocks viewed as capable of continuing to grow while passing higher costs on to customers, reinforcing the appeal of its defensive, recurring-revenue business model. Dividend Stocks That Could Keep Growing
• Neutral Sentiment: Morgan Stanley lowered its price target to $195, but the revised target remains above the current trading level. The change signals more cautious valuation expectations rather than an outright bearish view. Morgan Stanley Cuts Waste Connections Stock Target
• Negative Sentiment: Citigroup reduced its price target from $182 to $175 and assigned a Neutral rating, limiting the perceived near-term upside and adding pressure to the valuation narrative. Citigroup Lowers Waste Connections Price Target
• Negative Sentiment: Recent previews indicate that WCN may not have the combination of factors typically associated with an earnings beat, creating a risk ahead of next week’s results. Waste Connections Earnings Preview

Waste Connections Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal, recycling and resource recovery services. The company serves residential, commercial, industrial and construction customers through local operations and provides services under municipal and other contracted arrangements.

Its business includes curbside and commercial waste collection, transfer stations, solid waste landfills, recycling facilities and organics processing. Waste Connections also provides environmental services for energy-producing customers, including the management and disposal of non-hazardous oilfield waste, and operates resource recovery and renewable energy projects in connection with certain waste facilities.

Founded in 1997, Waste Connections serves communities across the United States and Canada.