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

Rithm Capital Corp. increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 103.3% in the first quarter, according to the company in 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 period. Waste Connections makes up 1.5% of Rithm Capital Corp.’s portfolio, making the stock its 27th largest holding. Rithm Capital Corp.’s holdings in Waste Connections were worth $991,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in Waste Connections by 48.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider’s stock worth $604,573,000 after purchasing an additional 1,219,056 shares during the period. Quantinno Capital Management LP boosted its position in shares of Waste Connections by 60.6% during the first quarter. Quantinno Capital Management LP now owns 37,868 shares of the business services provider’s stock valued at $6,150,000 after buying an additional 14,288 shares during the period. SummitTX Capital L.P. purchased a new position in shares of Waste Connections during the first quarter valued at approximately $2,848,000. Owlhouse Capital LP bought a new position in shares of Waste Connections during the first quarter valued at approximately $4,605,000. Finally, Delta Global Management LP grew its stake in shares of Waste Connections by 94.6% during the first quarter. Delta Global Management LP now owns 14,020 shares of the business services provider’s stock valued at $2,277,000 after buying an additional 6,815 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Up 0.0%

Shares of NYSE WCN opened at $169.63 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $42.80 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.91 and a beta of 0.49. The stock has a 50 day moving average price of $161.57 and a 200 day moving average price of $163.18. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $191.91.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. Sell-side analysts expect that Waste Connections, Inc. will post 5.6 earnings per share for the current year.

Waste Connections Announces Dividend

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

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 Transactions at Waste Connections

In related news, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the completion of the sale, the vice president directly owned 19,737 shares of the company’s stock, valued at $3,084,103.62. This represents a 27.54% 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. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the completion of the acquisition, the chief executive officer owned 301,017 shares in the company, valued at $45,826,828.08. This represents a 19.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 15,000 shares of company stock valued at $2,395,755. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WCN. TD Cowen reissued a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Citigroup lifted their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.05.

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.