BI Asset Management Fondsmaeglerselskab A S Decreases Position in Waste Connections, Inc. $WCN

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Waste Connections, Inc. by 21.5%, selling 15,875 shares during the first quarter, and now holds 57,934 shares valued at approximately $11.3 million.
• Several institutional investors significantly increased their holdings in Waste Connections, with Ramirez Asset Management and Larson Financial Group showing notable growth of 122% and 994% respectively.
• Waste Connections reported a quarterly earnings per share (EPS) of $1.29, surpassing analyst expectations, and has announced a quarterly dividend of $0.315 to be paid on August 21st.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 57,934 shares of the business services provider's stock after selling 15,875 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Waste Connections were worth $11,308,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ramirez Asset Management Inc. grew its holdings in Waste Connections by 122.0% during the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after purchasing an additional 100 shares during the period. Larson Financial Group LLC grew its holdings in Waste Connections by 994.4% during the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after purchasing an additional 179 shares during the period. Global Financial Private Client LLC grew its holdings in Waste Connections by 890.0% during the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after purchasing an additional 178 shares during the period. Valley National Advisers Inc. grew its holdings in Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after purchasing an additional 151 shares during the period. Finally, Louisbourg Investments Inc. grew its holdings in Waste Connections by 128.6% during the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after purchasing an additional 135 shares during the period. Institutional investors own 86.09% of the company's stock.

Waste Connections Price Performance

Waste Connections stock traded down $1.7840 during midday trading on Friday, reaching $184.6960. 805,770 shares of the stock traded hands, compared to its average volume of 1,097,258. The stock's fifty day moving average is $185.49 and its 200-day moving average is $189.57. Waste Connections, Inc. has a 12 month low of $169.36 and a 12 month high of $201.66. The stock has a market cap of $47.72 billion, a P/E ratio of 74.47, a PEG ratio of 3.36 and a beta of 0.58. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were given 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 50.81%.

Analyst Upgrades and Downgrades

WCN has been the subject of a number of recent analyst reports. Raymond James Financial dropped their price objective on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research note on Tuesday, July 22nd. Seaport Res Ptn raised Waste Connections to a "strong-buy" rating in a research note on Tuesday, May 6th. Oppenheimer upped their price objective on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Truist Financial set a $220.00 price objective on Waste Connections in a research note on Friday, April 25th. Finally, Scotiabank upped their price objective on Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $215.00.

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.