Adage Capital Partners GP L.L.C. Buys New Holdings in Waste Connections, Inc. $WCN

Adage Capital Partners GP L.L.C. acquired a new stake in Waste Connections, Inc. (NYSE:WCN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,809 shares of the business services provider's stock, valued at approximately $3,281,000.

Several other large investors also recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its holdings in shares of Waste Connections by 4.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after buying an additional 56 shares during the last quarter. MWA Asset Management boosted its holdings in shares of Waste Connections by 1.2% in the 1st quarter. MWA Asset Management now owns 4,783 shares of the business services provider's stock valued at $934,000 after buying an additional 57 shares during the last quarter. Tranquility Partners LLC boosted its holdings in shares of Waste Connections by 1.4% in the 1st quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock valued at $850,000 after buying an additional 58 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Waste Connections by 6.0% in the 1st quarter. MAI Capital Management now owns 1,116 shares of the business services provider's stock valued at $218,000 after buying an additional 63 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Waste Connections by 29.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WCN shares. Oppenheimer raised their price target on Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Royal Bank Of Canada cut their price target on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Melius started coverage on Waste Connections in a report on Monday, June 9th. They set a "buy" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Finally, Citigroup cut their price target on Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Five research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $215.00.

Waste Connections Price Performance

NYSE WCN traded down $1.42 on Wednesday, hitting $176.19. 1,293,816 shares of the company's stock were exchanged, compared to its average volume of 1,125,908. The stock has a 50-day moving average of $184.29 and a 200-day moving average of $188.99. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 71.04, a P/E/G ratio of 3.22 and a beta of 0.61. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the company posted $1.24 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

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

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.