Waste Connections, Inc. WCN stock has rallied 29.5% over the past year. The company’s performance is being driven by healthy demand for services, acquisitions, operating efficiency and increased prices charged to customers.

Waste Connections has been benefiting from trends such as rising environmental concerns, rapid industrialization and increased population. The company’s services usually cannot be delayed and are required on a scheduled basis, allowing it to achieve a steady flow of revenues, which grew 13.3% year over year in the third quarter of 2024 and 11.2% year over year in 2023.

Prices charged to customers increased $127.7 million in the third quarter of 2024 and $616.6 million in 2023, driving adjusted EBITDA growth of 17.3% in the quarter and 13.6% in 2023.

Waste Connections follows a combination of financial, market and management criteria to evaluate acquisition opportunities. In 2023, 2022 and 2021, the company completed 13, 24 and 30 acquisitions, respectively. These contributed $410.9 million to its revenues in 2023, $552 million in 2022 and $215.39 million in 2021.

Commitment to shareholder returns makes Waste Connections a reliable way for investors to compound wealth over the long term. In 2023, 2022 and 2021, the company paid out $270.6 million, $243 million and $220.2 million in dividends, respectively.

Zacks Rank & Stocks to Consider

WCN currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Parsons PSN and Qifu Technology, Inc. QFIN.

Parsons sports a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

PSN has a long-term earnings growth expectation of 18.6%. It delivered a trailing four-quarter earnings surprise of 17.5%, on average.

Qifu currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 20.9%.

QFIN delivered a trailing four-quarter earnings surprise of 12.4%, on average.

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