Rithm Capital Corp. Acquires 3,100 Shares of Waste Connections, Inc. $WCN

Rithm Capital Corp. boosted its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 103.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,100 shares of the business services provider’s stock after purchasing an additional 3,100 shares during the quarter. Waste Connections comprises 1.5% of Rithm Capital Corp.’s portfolio, making the stock its 27th biggest holding. Rithm Capital Corp.’s holdings in Waste Connections were worth $991,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WCN. Trium Capital LLP purchased a new position in Waste Connections during the fourth quarter valued at $1,995,000. Nicholas Company Inc. lifted its stake in Waste Connections by 32.4% in the 4th quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider’s stock worth $78,756,000 after purchasing an additional 109,950 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Waste Connections by 161.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,114 shares of the business services provider’s stock worth $3,332,000 after purchasing an additional 11,810 shares in the last quarter. Rathbones Group PLC boosted its holdings in shares of Waste Connections by 1.2% during the 4th quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider’s stock valued at $117,394,000 after purchasing an additional 7,866 shares during the last quarter. Finally, Mirabaud Asset Management Ltd boosted its holdings in shares of Waste Connections by 28.9% during the 4th quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider’s stock valued at $10,754,000 after purchasing an additional 12,680 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Barclays set a $180.00 price objective on Waste Connections and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.05.

Key Headlines Impacting Waste Connections

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

In other news, VP Patrick James Shea sold 7,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the transaction, the vice president owned 19,737 shares in the company, valued at approximately $3,084,103.62. The trade was a 27.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jason Craft sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares in the company, valued at approximately $5,145,703.99. This represents a 4.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 15,000 shares of company stock valued at $2,395,755. 0.27% of the stock is currently owned by company insiders.

Waste Connections Stock Performance

Waste Connections stock opened at $169.63 on Tuesday. The company’s 50-day moving average price is $161.57 and its 200-day moving average price is $163.18. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.91. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company has a market cap of $42.80 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company earned $1.29 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.6 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s dividend payout ratio is 33.73%.

About Waste Connections

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.