Waste Connections, Inc. $WCN Stake Lowered by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. has decreased its position in Waste Connections, Inc. (NYSE: WCN) by 29.5%, selling 16,215 shares during the first quarter, leaving them with a total of 38,706 shares worth approximately $7.55 million.
• Several hedge funds have significantly increased their stakes in Waste Connections, with some firms boosting their holdings by over 900% within the same quarter.
• Waste Connections reported a quarterly earnings per share of $1.29, beating expectations, while also announcing a quarterly dividend of $0.315 per share, representing a 0.7% yield.

BW Gestao de Investimentos Ltda. decreased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,706 shares of the business services provider's stock after selling 16,215 shares during the period. BW Gestao de Investimentos Ltda.'s holdings in Waste Connections were worth $7,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ramirez Asset Management Inc. raised 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 worth $36,000 after purchasing an additional 100 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock valued at $38,000 after buying an additional 179 shares in the last quarter. Global Financial Private Client LLC increased its holdings in shares of Waste Connections by 890.0% in the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after buying an additional 178 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after buying an additional 151 shares in the last quarter. Finally, Louisbourg Investments Inc. increased its holdings in shares of Waste Connections by 128.6% in the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after buying an additional 135 shares in the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Trading Down 1.1%

NYSE WCN traded down $1.94 on Friday, hitting $179.33. 924,704 shares of the stock were exchanged, compared to its average volume of 926,641. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $46.11 billion, a price-to-earnings ratio of 72.31, a P/E/G ratio of 3.27 and a beta of 0.61. The company's 50-day moving average price is $184.62 and its two-hundred day moving average price is $189.11.

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

Waste Connections Announces Dividend

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

Wall Street Analyst Weigh In

WCN has been the topic of several research reports. National Bank Financial raised Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. CIBC reiterated an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. Melius began coverage on shares of Waste Connections in a research report on Monday, June 9th. They set a "buy" rating on the stock. Scotiabank lifted their price objective on shares of Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, Citigroup lowered their price objective on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Waste Connections has a consensus rating of "Buy" and a consensus target price of $215.00.

Waste Connections Company 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.