Intech Investment Management LLC Decreases Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Intech Investment Management LLC reduced its stake in Waste Connections, Inc. by 46.6%, ending the quarter with 13,931 shares valued at approximately $2.72 million.
• Multiple hedge funds increased their investments in Waste Connections, with Larson Financial Group LLC reporting a staggering 994.4% increase in its holdings.
• The stock has received favorable ratings from analysts, with several upgrades to a "strong-buy" classification and a current average target price of $215.00.

Intech Investment Management LLC trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 46.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,931 shares of the business services provider's stock after selling 12,164 shares during the period. Intech Investment Management LLC's holdings in Waste Connections were worth $2,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WCN shares. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Oppenheimer raised 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. JPMorgan Chase & Co. lifted their price target on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. CIBC reissued an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Finally, Melius Research upgraded 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. Five analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Performance

NYSE WCN opened at $176.10 on Monday. The stock's fifty day moving average is $184.14 and its two-hundred day moving average is $188.76. The firm has a market capitalization of $45.28 billion, a P/E ratio of 71.01, a price-to-earnings-growth ratio of 3.18 and a beta of 0.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66.

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

Waste Connections Announces Dividend

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

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.

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