MassMutual Private Wealth & Trust FSB Decreases Position in Waste Connections, Inc. $WCN

Key Points

• MassMutual Private Wealth & Trust FSB reduced its holdings in Waste Connections, Inc. by 16.9%, selling 6,161 shares during the second quarter, leaving it with 30,353 shares valued at approximately $5.7 million.
• Waste Connections reported a net income of $1.29 EPS for the latest quarter, surpassing expectations and showing a 7.1% increase in revenue year-over-year.
• The company's quarterly dividend of $0.315 reflects a 0.7% yield, with a current payout ratio of approximately 50.81%.

MassMutual Private Wealth & Trust FSB decreased its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,353 shares of the business services provider's stock after selling 6,161 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Waste Connections were worth $5,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in Waste Connections by 18.5% in the fourth quarter. Lazard Asset Management LLC now owns 2,312 shares of the business services provider's stock valued at $396,000 after purchasing an additional 361 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Waste Connections by 9.8% in the 4th quarter. Quantinno Capital Management LP now owns 7,598 shares of the business services provider's stock valued at $1,304,000 after buying an additional 676 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in Waste Connections in the 4th quarter valued at approximately $208,000. Waverly Advisors LLC bought a new position in shares of Waste Connections during the fourth quarter valued at $289,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Waste Connections by 9.3% during the fourth quarter. Voloridge Investment Management LLC now owns 563,799 shares of the business services provider's stock valued at $96,737,000 after acquiring an additional 47,955 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on WCN shares. Barclays started coverage on Waste Connections in a research report on Friday. They set an "equal weight" rating and a $192.00 target price for the company. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Royal Bank Of Canada lowered their price objective on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company 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 target for the company in a report on Monday, June 9th. Finally, Raymond James Financial lowered their price target on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $213.00.

Waste Connections Price Performance

Shares of WCN traded down $1.25 during midday trading on Friday, reaching $174.16. The stock had a trading volume of 1,514,518 shares, compared to its average volume of 1,085,095. The company has a market capitalization of $44.78 billion, a price-to-earnings ratio of 70.23, a price-to-earnings-growth ratio of 3.16 and a beta of 0.61. The company's 50-day moving average is $183.37 and its 200 day moving average is $188.23. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. 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 quarterly earnings results 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 net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the business posted $1.24 earnings per share. 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, equities analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were given a dividend of $0.315 per share. 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%.

Waste Connections 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.