5 Best TSX Stocks To Buy Now

4. Waste Connections, Inc. (TSX:WCN.TO)

Number of Hedge Fund Holders: 34

Waste Connections, Inc. (TSX:WCN.TO) is based in Woodbridge, Canada, and the company provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. On August 4, Waste Connections, Inc. (TSX:WCN.TO) announced an underwritten public offering of senior unsecured notes, and the net proceeds will be used to repay a part of the outstanding debt under its revolving credit facility. It is one of the best TSX stocks to buy now. 

On October 24, Jefferies analyst Stephanie Moore initiated coverage of Waste Connections, Inc. (TSX:WCN.TO) with a Buy rating and a $165 price target. The analyst said the stock is best-in-class in the waste industry, with above average pricing growth and margins due to its suburban end markets, as well as the exclusivity from its franchise contracts. She sees at least low double digit revenue growth for Waste Connections, Inc. (TSX:WCN.TO) in 2023.

According to Insider Monkey’s data, 34 hedge funds were long Waste Connections, Inc. (TSX:WCN.TO) at the end of June 2022, compared to 35 funds in the prior quarter. Henry Ellenbogen’s Durable Capital Partners is the biggest stakeholder of the company, with nearly 2 million shares worth $239.2 million.