Burgundy Asset Management Ltd. Has $44.03 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Key Points

• Burgundy Asset Management Ltd. reduced its stake in Waste Connections, Inc. by 1.3% to 225,685 shares, valued at approximately $44.03 million, following the sale of 2,962 shares in the first quarter.
• Waste Connections recently reported earnings of $1.29 per share for the last quarter, exceeding estimates, with revenue of $2.41 billion, a 7.1% increase year-over-year.
• JPMorgan raised its price target for Waste Connections from $197.00 to $230.00, reflecting positive analyst sentiment with a consensus rating of "Buy" and a target price of $215.00.

Burgundy Asset Management Ltd. lowered its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 225,685 shares of the business services provider's stock after selling 2,962 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.09% of Waste Connections worth $44,033,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WCN. Ramirez Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 100 shares during the period. Larson Financial Group LLC lifted its stake in shares of 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 purchasing an additional 179 shares during the period. Global Financial Private Client LLC lifted its stake in shares of Waste Connections by 890.0% in the 1st 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. lifted its stake in shares of 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 purchasing an additional 151 shares during the period. Finally, Louisbourg Investments Inc. raised its stake in Waste Connections by 128.6% during the 1st quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock worth $47,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Ratings Changes

WCN has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a research note on Monday, June 9th. Scotiabank raised 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. Truist Financial set a $220.00 price objective on Waste Connections in a research note on Friday, April 25th. Finally, Citigroup dropped their price objective on Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Waste Connections has a consensus rating of "Buy" and a consensus target price of $215.00.

Waste Connections Price Performance

WCN stock opened at $184.78 on Friday. The stock has a 50-day moving average price of $185.91 and a two-hundred day moving average price of $189.61. The stock has a market cap of $47.75 billion, a PE ratio of 74.51, a price-to-earnings-growth ratio of 3.33 and a beta of 0.58. 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, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%. Waste Connections's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Equities analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be issued a $0.315 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections's dividend payout ratio (DPR) is presently 50.81%.

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.

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