Montrusco Bolton Investments Inc. Increases Position in Waste Connections, Inc. $WCN

Montrusco Bolton Investments Inc. raised its stake in Waste Connections, Inc. (NYSE:WCN) by 46.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,306,702 shares of the business services provider’s stock after acquiring an additional 732,718 shares during the period. Waste Connections makes up 4.7% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 7th largest holding. Montrusco Bolton Investments Inc. owned approximately 0.89% of Waste Connections worth $419,451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ramirez Asset Management Inc. increased its holdings in Waste Connections by 122.0% in the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Larson Financial Group LLC increased its holdings in Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 179 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Waste Connections by 232.3% in the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 151 shares during the last quarter. Louisbourg Investments Inc. increased its holdings in Waste Connections by 128.6% in the 1st quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in Waste Connections in the 2nd quarter valued at $51,000. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Trading Up 1.4%

NYSE WCN opened at $172.58 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The firm has a market cap of $44.28 billion, a PE ratio of 69.59, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. The company has a 50 day moving average price of $179.63 and a 200 day moving average price of $186.63. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.25 by $0.04. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. Waste Connections’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were paid a dividend of $0.315 per share. The ex-dividend date was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. Waste Connections’s dividend payout ratio is presently 50.81%.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Stifel Nicolaus assumed coverage on shares of Waste Connections in a research report on Tuesday, September 30th. They issued a “buy” rating and a $221.00 price objective for the company. Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the stock a “strong-buy” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Buy” and an average target price of $211.73.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.