Millennium Management LLC Has $21.64 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Millennium Management LLC has significantly reduced its holdings in Waste Connections by 78.4%, now owning 110,852 shares valued at approximately $21.64 million.
• Notable increases in holdings by other institutional investors include Ramirez Asset Management Inc. with a 122% increase and Larson Financial Group LLC with a remarkable 994.4% increase during the same quarter.
• Analysts have a consensus rating of "Buy" for Waste Connections, with recent target prices ranging from $204.00 to $230.00, reflecting varied outlooks on the stock.

Millennium Management LLC reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 78.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,852 shares of the business services provider's stock after selling 401,366 shares during the quarter. Millennium Management LLC's holdings in Waste Connections were worth $21,637,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WCN. Ramirez Asset Management Inc. lifted its position in shares of Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after buying an additional 100 shares during the last quarter. Larson Financial Group LLC raised its position 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 valued at $38,000 after purchasing an additional 179 shares during the last quarter. Global Financial Private Client LLC raised its position 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 valued at $39,000 after purchasing an additional 178 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock valued at $41,000 after buying an additional 151 shares during the period. Finally, Louisbourg Investments Inc. increased its stake in shares of Waste Connections by 128.6% in the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after buying an additional 135 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup decreased their target price on Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Melius began coverage on Waste Connections in a report on Monday, June 9th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. raised their target price on Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Royal Bank Of Canada dropped their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Finally, Atb Cap Markets upgraded Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $215.00.

Waste Connections Stock Performance

Shares of WCN opened at $176.10 on Friday. The firm has a market cap of $45.28 billion, a PE ratio of 71.01, a PEG ratio of 3.21 and a beta of 0.61. The stock's fifty day moving average price is $184.14 and its two-hundred day moving average price is $188.74. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66.

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, beating the consensus estimate of $1.25 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The business's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently declared 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 was Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections's payout ratio is 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.

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