Waste Connections, Inc. $WCN Position Increased by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA grew its position in Waste Connections, Inc. (NYSE:WCN) by 11.9% in the third quarter, HoldingsChannel.com reports. The fund owned 46,856 shares of the business services provider’s stock after buying an additional 4,992 shares during the period. Middleton & Co. Inc. MA’s holdings in Waste Connections were worth $7,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Waste Connections by 1.5% in the first quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider’s stock valued at $701,000 after purchasing an additional 65 shares during the last quarter. AA Financial Advisors LLC grew its holdings in shares of Waste Connections by 3.9% during the 3rd quarter. AA Financial Advisors LLC now owns 2,219 shares of the business services provider’s stock worth $342,000 after purchasing an additional 84 shares in the last quarter. GAMMA Investing LLC increased its holdings in Waste Connections by 2.0% in the 2nd quarter. GAMMA Investing LLC now owns 5,030 shares of the business services provider’s stock valued at $838,000 after buying an additional 99 shares during the period. Athena Wealth Management LLC increased its stake in Waste Connections by 6.7% in the third quarter. Athena Wealth Management LLC now owns 1,829 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 115 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in Waste Connections by 9.2% during the first quarter. Private Advisor Group LLC now owns 1,519 shares of the business services provider’s stock worth $247,000 after acquiring an additional 128 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Waste Connections

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

• Positive Sentiment: Analysts raised price targets: Deutsche Bank lifted its target from $191 to $205 and maintained a “buy” rating. Wells Fargo raised its target from $187 to $211 and upgraded its stance to “overweight,” while Scotiabank increased its target from $193 to $201 and retained a “sector outperform” rating. The targets imply approximately 8% to 13% upside from the referenced share price.
• Positive Sentiment: Third-quarter results exceeded expectations: Waste Connections reported adjusted earnings of $1.58 per share, up from $1.44 a year earlier and ahead of the $1.52 consensus estimate. Revenue rose 23.8% year over year to $2.64 billion, also surpassing analyst expectations. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management raised its outlook as landfill volumes improved, supporting expectations for continued revenue and profit growth. Acquisitions are also contributing to earnings growth and expanding the company’s disposal-services platform. Waste Connections Raises Outlook as Landfill Volumes Improve
• Positive Sentiment: Dividend increased 10%: Waste Connections raised its quarterly dividend to $0.385 per share from $0.35, equivalent to $1.54 annually. The increase signals confidence in cash flow and enhances shareholder returns. Waste Connections Raised Its Dividend 10%

Waste Connections Stock Performance

NYSE:WCN opened at $186.48 on Friday. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $187.27. The business has a fifty day simple moving average of $161.75 and a two-hundred day simple moving average of $161.73. The company has a market capitalization of $46.72 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.28 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.52 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.60 billion. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. Waste Connections’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts expect that Waste Connections, Inc. will post 5.70 earnings per share for the current year.

Waste Connections Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be given a $0.3850 dividend. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, November 5th. Waste Connections’s dividend payout ratio (DPR) is presently 31.32%.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of research reports. Citigroup reissued a “neutral” rating and set a $192.00 target price (up from $175.00) on shares of Waste Connections in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Waste Connections from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Friday. Raymond James Financial set a $189.00 price target on Waste Connections in a report on Friday, October 9th. BMO Capital Markets reiterated an “outperform” rating and set a $206.00 price objective on shares of Waste Connections in a report on Friday. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $207.00 price target (up from $184.00) on shares of Waste Connections in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.39.

Insiders Place Their Bets

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was 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 $122,262.38. This trade represents a 77.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Cloninger sold 2,811 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.