EULAV Asset Management 13F: Cuts WCN Stake by $3.3M

EULAV Asset Management trimmed its position in Waste Connections, Inc. (NYSE: WCN) by 21,415 shares, valued at approximately $49.4 million, in a filing on October 23, 2026. The fund now holds 321,047 shares of Waste Connections, reflecting a decrease of 6.3% from its previous total of 342,462 shares.

WCN Waste Connections, Inc.

$185.57 ▲ +7.27% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Where Waste Connections Fits in EULAV Asset Management's Portfolio

EULAV's stake in Waste Connections makes up 4.67% of its total reported value of about $1.06 billion, ranking it 8th among the fund's 151 positions.

Other Institutional Activity in Waste Connections

LMCG Investments grew its holdings by 6,388 shares, ending with 62,580 shares worth about $9.6 million. Meanwhile, Montrusco Bolton Investments reduced its stake by 230,635 shares, leaving it with 744,195 shares valued at approximately $114.6 million. Royal Bank of Canada added 978,069 shares, bringing its total to 13,188,665 shares worth about $2.46 billion.

Waste Connections, Inc. Stock Up 0.4%

Waste Connections shares closed at $186.60 on October 23, 2026, the same day EULAV filed its report. Recently, the stock traded around $185.57, which is about 0.6% below the closing price on the filing date. The shares are currently above both the 50-day and 200-day moving averages by 14.8% and 13.8%, respectively.

Recent Earnings

For the trailing twelve months, Waste Connections reported revenue of approximately $9.94 billion and an EPS of $4.46. The company has a net margin of 11.4% and a return on equity of 14.2%. The next earnings report is scheduled for February 10, 2027.

Dividend

Waste Connections offers a dividend rate of $1.40 per share, translating to a yield of 0.83%. The company maintains a dividend payout ratio of 31.4%.

Insider Buying and Selling at Waste Connections, Inc.

Several insiders sold shares earlier this year, including Officer Robert Nielsen III, who sold 300 shares at $173.10 on July 29, 2026, and Officer Susan Rhea Netherton, who sold 1,750 shares at $166.00 on August 13, 2026. These transactions were part of their regular trading activities and do not imply any negative sentiment about the company.

Analysts Set New Price Targets

On October 23, 2026, CIBC maintained its Outperformer rating on Waste Connections with a target price of $207, up from $184. Citigroup also maintained its Neutral rating with a target of $192, while Morgan Stanley reaffirmed its Overweight rating with a target of $200. The average target price among analysts is approximately $206.32, reflecting a positive outlook for the stock.

About Waste Connections

Waste Connections, Inc. provides waste management services, including collection, transfer, and disposal, primarily in the U.S. and Canada. The company serves residential, commercial, and industrial clients, focusing on non-hazardous waste. The recent adjustments by EULAV Asset Management highlight ongoing interest in Waste Connections amid a stable market environment.

Bottom Line

Investors will want to monitor Waste Connections closely, particularly with the upcoming earnings report on February 10, 2027, and any further institutional filings. EULAV's recent trimming of its position suggests a careful reassessment of its investment strategy in this sector.