Federation des caisses Desjardins du Quebec Buys 22,288 Shares of Waste Connections, Inc. $WCN

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Waste Connections, Inc. by 9.7%, owning 251,816 shares valued at approximately $47.17 million.
• Waste Connections reported quarterly earnings of $1.29 EPS, exceeding analysts' expectations, with revenue of $2.41 billion, a 7.1% year-over-year increase.
• The company recently declared a quarterly dividend of $0.315 per share, resulting in an annualized yield of 0.7% and a dividend payout ratio of 50.81%.

Federation des caisses Desjardins du Quebec grew its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 251,816 shares of the business services provider's stock after purchasing an additional 22,288 shares during the quarter. Federation des caisses Desjardins du Quebec owned about 0.10% of Waste Connections worth $47,170,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Ramirez Asset Management Inc. raised its stake in Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after buying an additional 100 shares during the period. Larson Financial Group LLC grew its holdings 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 acquiring an additional 179 shares in the last quarter. Global Financial Private Client LLC grew its holdings 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 acquiring an additional 178 shares in the last quarter. Valley National Advisers Inc. lifted its stake in 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 last quarter. Finally, Louisbourg Investments Inc. lifted its stake in Waste Connections by 128.6% in the 1st 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 last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WCN. Atb Cap Markets upgraded shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. Oppenheimer raised their target price on shares of Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Scotiabank raised 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. Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price objective for the company in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $215.00.

Waste Connections Price Performance

NYSE:WCN traded down $1.94 during mid-day trading on Friday, reaching $179.33. The stock had a trading volume of 924,704 shares, compared to its average volume of 926,641. The stock has a 50-day simple moving average of $184.62 and a two-hundred day simple moving average of $189.11. The stock has a market capitalization of $46.11 billion, a PE ratio of 72.31, a P/E/G ratio of 3.27 and a beta of 0.61. 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 12 month low of $169.36 and a 12 month 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. 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.