Waste Connections, Inc. $WCN Holdings Lowered by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC trimmed its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 19.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,509 shares of the business services provider’s stock after selling 371 shares during the period. Sage Mountain Advisors LLC’s holdings in Waste Connections were worth $282,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Waste Connections by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock valued at $5,901,049,000 after purchasing an additional 954,242 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of Waste Connections by 1.8% during the second quarter. WCM Investment Management LLC now owns 6,501,719 shares of the business services provider’s stock valued at $1,208,669,000 after purchasing an additional 117,939 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Waste Connections by 5.8% during the first quarter. Mackenzie Financial Corp now owns 4,575,547 shares of the business services provider’s stock valued at $892,023,000 after purchasing an additional 250,684 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Waste Connections by 3.2% during the second quarter. TD Asset Management Inc now owns 3,942,989 shares of the business services provider’s stock valued at $735,169,000 after purchasing an additional 123,730 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Waste Connections by 2.7% during the first quarter. 1832 Asset Management L.P. now owns 3,863,120 shares of the business services provider’s stock valued at $754,042,000 after purchasing an additional 100,716 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of WCN stock opened at $176.76 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The stock’s 50-day moving average is $176.95 and its two-hundred day moving average is $185.40. The firm has a market cap of $45.36 billion, a P/E ratio of 73.65, a PEG ratio of 3.25 and a beta of 0.62.

Waste Connections (NYSE:WCN) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm posted $1.35 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s payout ratio is currently 52.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WCN shares. UBS Group set a $195.00 price objective on Waste Connections and gave the stock a “neutral” rating in a research note on Thursday. Atb Cap Markets raised Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Scotiabank reissued an “outperform” rating and issued a $210.00 price objective on shares of Waste Connections in a research note on Thursday. Royal Bank Of Canada reduced their price objective on Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Finally, Barclays reissued a “negative” rating on shares of Waste Connections in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $210.63.

Waste Connections Profile

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.