Mattson Financial Services LLC Purchases 2,169 Shares of Waste Connections, Inc. $WCN

Key Points

• Mattson Financial Services LLC increased its stake in Waste Connections by 29.7%, acquiring an additional 2,169 shares in the first quarter, bringing its total holdings to 9,475 shares valued at approximately $1.8 million.
• Waste Connections reported better-than-expected quarterly earnings of $1.29 per share, surpassing analysts' estimates, with revenues of $2.41 billion for the same period.
• The company recently announced a quarterly dividend of $0.315, representing an annualized dividend yield of 0.7%, with a dividend payout ratio of 50.81%.

Mattson Financial Services LLC increased its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,475 shares of the business services provider's stock after purchasing an additional 2,169 shares during the quarter. Mattson Financial Services LLC's holdings in Waste Connections were worth $1,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ramirez Asset Management Inc. grew its stake in Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Larson Financial Group LLC grew 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 in the last quarter. Global Financial Private Client LLC grew 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 in the last quarter. Valley National Advisers Inc. grew 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 in the last quarter. Finally, Louisbourg Investments Inc. grew 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 in the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Down 0.8%

Waste Connections stock opened at $176.19 on Thursday. 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 stock has a market capitalization of $45.30 billion, a price-to-earnings ratio of 71.04, a PEG ratio of 3.20 and a beta of 0.61. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The business has a fifty day moving average price of $184.25 and a 200-day moving average price of $188.90.

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 for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal 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 given a $0.315 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 50.81%.

Analysts Set New Price Targets

Several brokerages have issued reports on WCN. Melius began coverage on Waste Connections in a research report on Monday, June 9th. They set a "buy" rating on the stock. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Citigroup dropped their target price on Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Raymond James Financial dropped their target price on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 22nd. Finally, Scotiabank increased their target price on Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $215.00.

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.

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