Waste Connections, Inc. $WCN Position Reduced by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Waste Connections, Inc. by 6.0%, now holding 194,342 shares worth approximately $37.93 million.
• Waste Connections recently reported a quarterly EPS of $1.29, exceeding analysts' expectations, while revenue reached $2.41 billion, a 7.1% increase year-over-year.
• The company declared a quarterly dividend of $0.315 per share, reflecting an annualized dividend of $1.26 and a yield of 0.7%, with a payout ratio of 50.81%.

Invesco Ltd. reduced its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,342 shares of the business services provider's stock after selling 12,381 shares during the period. Invesco Ltd. owned approximately 0.08% of Waste Connections worth $37,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its position in Waste Connections by 4.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after buying an additional 56 shares during the last quarter. MWA Asset Management boosted its position in Waste Connections by 1.2% in the 1st quarter. MWA Asset Management now owns 4,783 shares of the business services provider's stock valued at $934,000 after buying an additional 57 shares during the last quarter. Tranquility Partners LLC boosted its position in Waste Connections by 1.4% in the 1st quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock valued at $850,000 after buying an additional 58 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in Waste Connections by 29.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after buying an additional 64 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Waste Connections by 28.9% in the 1st quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock valued at $57,000 after buying an additional 65 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on WCN. BMO Capital Markets upped their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Oppenheimer increased their price target on shares of Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Citigroup reduced their price target 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. National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Finally, Royal Bank Of Canada reduced their price target on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Five equities research 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. According to MarketBeat, Waste Connections currently has a consensus rating of "Buy" and an average price target of $215.00.

Waste Connections Stock Performance

NYSE WCN traded up $0.1050 during trading hours on Wednesday, reaching $186.2750. The company's stock had a trading volume of 1,352,169 shares, compared to its average volume of 1,155,656. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $185.77 and a 200 day simple moving average of $189.62. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The stock has a market cap of $48.13 billion, a PE ratio of 37.76, a PEG ratio of 3.36 and a beta of 0.58.

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

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th will be paid 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%.

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.