The Manufacturers Life Insurance Company Boosts Stake in Waste Connections, Inc. $WCN

The Manufacturers Life Insurance Company grew its holdings in Waste Connections, Inc. (NYSE:WCN) by 48.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,724,204 shares of the business services provider’s stock after buying an additional 1,219,056 shares during the period. The Manufacturers Life Insurance Company’s holdings in Waste Connections were worth $604,573,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Waste Connections during the 4th quarter worth about $697,519,000. Capital International Investors lifted its position in Waste Connections by 28.2% in the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock valued at $1,134,781,000 after buying an additional 1,420,921 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Waste Connections by 37.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after buying an additional 1,289,042 shares during the period. Wellington Management Group LLP boosted its stake in Waste Connections by 39.6% during the third quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock worth $783,218,000 after buying an additional 1,264,150 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Waste Connections by 58.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider’s stock valued at $508,600,000 after acquiring an additional 1,065,653 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WCN shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Citigroup increased their price objective 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 target price on shares of Waste Connections in a report on Thursday, April 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.05.

Waste Connections News Summary

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

• Positive Sentiment: Waste Connections priced C$700 million of senior unsecured notes, including C$300 million of 4.200% notes due 2033. The long-term financing could support acquisitions, refinancing, or other corporate needs, while the relatively attractive cost of the 2033 tranche may help limit interest-expense pressure. Waste Connections Announces Pricing of C$700 Million of Senior Notes
• Positive Sentiment: Analysts highlighted Waste Connections’ strong second-quarter performance: adjusted earnings exceeded expectations, revenue increased year over year, margins expanded, cash flow remained robust, and the company raised its 2026 revenue outlook. These factors reinforce the company’s growth narrative. Is WCN Stock Worth Its Premium Valuation After Strong Q2 Results?
• Positive Sentiment: Waste Connections is using artificial intelligence to improve pricing and operations. AI-based pricing initiatives are generating approximately $20 million in annualized EBITDA gains, while routing tools could provide additional margin and efficiency benefits. How Waste Connections Is Using AI to Expand Margins and Future Growth
• Positive Sentiment: J.P. Morgan maintained a Buy rating, signaling continued confidence in WCN’s operating outlook and long-term growth prospects. J.P. Morgan Remains a Buy on Waste Connections
• Neutral Sentiment: The company’s earnings beat and outlook increase were partly offset by its premium valuation. With WCN trading at a high earnings multiple, investors may require continued strong execution before assigning the stock further upside. Waste Connections Stock Barely Moves Since Q2 Earnings Beat
• Negative Sentiment: Total collection volume declined 1.9% in the second quarter, raising concerns about fixed-cost absorption and potential operating deleverage. Strong pricing and construction-and-demolition volumes helped, but weaker overall volume remains a risk. Waste Connections: Better Margins, But Volume Trend Is Still Weak
• Negative Sentiment: The C$700 million notes offering adds debt and future interest obligations. This is manageable relative to the company’s scale but could constrain financial flexibility, particularly given its existing leverage and premium valuation.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the transaction, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. This represents a 19.92% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jason Craft sold 1,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the completion of the transaction, the chief operating officer owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,000 shares of company stock valued at $2,395,755 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Waste Connections Stock Performance

NYSE WCN opened at $169.63 on Tuesday. The company has a market cap of $42.80 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.91 and a beta of 0.49. 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 50-day moving average of $161.57 and a two-hundred day moving average of $163.18. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $191.91.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. During the same quarter in the prior year, the company earned $1.29 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts anticipate that Waste Connections, Inc. will post 5.6 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 6th. Waste Connections’s dividend payout ratio is presently 33.73%.

Waste Connections Company Profile

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.