Kingswood Wealth Advisors LLC Makes New $329,000 Investment in Waste Connections, Inc. $WCN

Key Points

• Kingswood Wealth Advisors LLC has made a new investment of approximately $329,000 in Waste Connections, Inc., acquiring 1,763 shares in the second quarter.
• Waste Connections reported an earnings per share (EPS) of $1.29, exceeding analyst estimates, and showed a 7.1% year-over-year revenue growth to $2.41 billion.
• The company announced a quarterly dividend of $0.315 per share, which reflects an annualized yield of 0.7% and a payout ratio of 50.81%.

Kingswood Wealth Advisors LLC bought a new position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,763 shares of the business services provider's stock, valued at approximately $329,000.

Other hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its holdings in Waste Connections by 37.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,796 shares of the business services provider's stock worth $350,000 after buying an additional 488 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Waste Connections by 89.5% in the 1st quarter. Private Trust Co. NA now owns 288 shares of the business services provider's stock valued at $56,000 after purchasing an additional 136 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Waste Connections by 19.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider's stock valued at $1,379,000 after purchasing an additional 1,137 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Waste Connections by 41.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider's stock valued at $3,843,000 after purchasing an additional 5,733 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its holdings in shares of Waste Connections by 10.0% in the 1st quarter. Premier Fund Managers Ltd now owns 331,088 shares of the business services provider's stock valued at $63,841,000 after purchasing an additional 30,136 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Trading Up 1.4%

NYSE WCN opened at $172.58 on Friday. 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 firm's fifty day moving average price is $179.63 and its 200 day moving average price is $186.71. The company has a market capitalization of $44.28 billion, a price-to-earnings ratio of 69.59, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. 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 posted its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, beating 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 the consensus estimate of $2.39 billion. During the same period last year, the firm posted $1.24 EPS. The company's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were given a dividend of $0.315 per share. This represents a $1.26 annualized dividend 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 presently 50.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Waste Connections from $210.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday. Barclays assumed coverage on shares of Waste Connections in a report on Friday, September 19th. They issued an "equal weight" rating and a $192.00 price objective on the stock. CIBC restated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. National Bankshares reduced their price objective on shares of Waste Connections from $211.00 to $196.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Citigroup dropped their target price on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 17th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $211.73.

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.

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