Argonautica Private Wealth Management Inc. Sells 2,631 Shares of Waste Connections, Inc. $WCN

Key Points

• Argonautica Private Wealth Management Inc. has decreased its stake in Waste Connections, Inc. by 49.9%, selling 2,631 shares and holding 2,646 shares valued at $494,000.
• Multiple institutional investors increased their holdings in Waste Connections during the first quarter, with Wealth Enhancement Advisory Services LLC raising its stake by 19.2% and Cambridge Investment Research Advisors Inc. by 41.0%.
• Waste Connections announced a quarterly dividend increase to $0.35 per share, marking a rise from the previous dividend of $0.32, with the ex-dividend date set for November 5th.

Argonautica Private Wealth Management Inc. reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 49.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,646 shares of the business services provider's stock after selling 2,631 shares during the quarter. Argonautica Private Wealth Management Inc.'s holdings in Waste Connections were worth $494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Waste Connections by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock worth $1,379,000 after purchasing an additional 1,137 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Waste Connections by 41.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock worth $3,843,000 after purchasing an additional 5,733 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Waste Connections by 16.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 52,047 shares of the business services provider's stock worth $10,159,000 after purchasing an additional 7,313 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Waste Connections by 4.8% during the first quarter. Asset Management One Co. Ltd. now owns 108,522 shares of the business services provider's stock worth $21,182,000 after purchasing an additional 4,937 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Waste Connections by 8.9% during the first quarter. Bessemer Group Inc. now owns 14,899 shares of the business services provider's stock worth $2,907,000 after purchasing an additional 1,221 shares during the period. 86.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

WCN has been the subject of a number of analyst reports. Royal Bank Of Canada dropped their target price on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. CIBC reiterated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a report on Wednesday, October 8th. Scotiabank set a $208.00 target price on shares of Waste Connections in a report on Friday, October 10th. Finally, Barclays initiated coverage on shares of Waste Connections in a report on Friday, September 19th. They set an "equal weight" rating and a $192.00 target price for the company. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Waste Connections has an average rating of "Buy" and a consensus price target of $210.38.

Waste Connections Stock Performance

Shares of WCN opened at $173.55 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66. The company has a 50-day simple moving average of $177.42 and a two-hundred day simple moving average of $185.59. The firm has a market capitalization of $44.53 billion, a PE ratio of 69.98, a price-to-earnings-growth ratio of 3.17 and a beta of 0.62.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business posted $1.35 earnings per share. Waste Connections's quarterly revenue was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Increases Dividend

The firm also recently announced 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 is Wednesday, November 5th. This is a positive change from Waste Connections's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections's dividend payout ratio (DPR) is 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.

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