Montrusco Bolton Investments Inc. Purchases 92,633 Shares of Waste Connections, Inc. $WCN

Key Points

• Montrusco Bolton increased its stake in Waste Connections by 4.1% in Q4, buying 92,633 shares to hold 2,345,566 shares (≈$397.9M), making WCN about 5.0% of its portfolio and its 5th largest position.
• Waste Connections beat Q1 EPS estimates ($1.23 vs. ~$1.19), management expects roughly $100M of M&A revenue to close by end-Q2/early-Q3 and reaffirmed 2026 free cash flow guidance of $1.4B–$1.45B, while analysts remain largely positive with a consensus Buy and an average target near $203 (JPMorgan raised its target to $210).

Montrusco Bolton Investments Inc. grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,345,566 shares of the business services provider's stock after acquiring an additional 92,633 shares during the quarter. Waste Connections accounts for approximately 5.0% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 5th largest position. Montrusco Bolton Investments Inc. owned 0.92% of Waste Connections worth $397,873,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its stake in shares of Waste Connections by 2.6% in the third quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock valued at $449,000 after buying an additional 64 shares during the period. Ritholtz Wealth Management grew its position in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock valued at $533,000 after purchasing an additional 64 shares during the period. WPG Advisers LLC increased its stake in Waste Connections by 7.7% during the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock valued at $161,000 after purchasing an additional 66 shares in the last quarter. RDA Financial Network increased its stake in Waste Connections by 2.8% during the 4th quarter. RDA Financial Network now owns 2,459 shares of the business services provider's stock valued at $431,000 after purchasing an additional 67 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in Waste Connections by 4.3% during the third quarter. Integrated Advisors Network LLC now owns 1,685 shares of the business services provider's stock worth $296,000 after buying an additional 70 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections News Roundup

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: JPMorgan raised its price target on WCN to $210 and moved to an "overweight" rating, implying substantial upside vs. current levels. Article Title
• Positive Sentiment: Management expects roughly $100M of M&A revenue to close by end of Q2 or early Q3 and reaffirmed 2026 free cash flow guidance of $1.4B–$1.45B — supports the company’s cash-generation story and buyout/investment optionality. Article Title
• Positive Sentiment: Q1 earnings: WCN reported EPS of $1.23, beating consensus (~$1.19), reinforcing underlying profitability per-share despite cost/mix headwinds. Article Title
• Neutral Sentiment: The company declared a quarterly dividend of $0.35 per share (record May 6, payable May 21); yield is modest (~0.8%) and unlikely to materially change investor stance. (Company announcement)
• Neutral Sentiment: Earnings-call and deep-dive coverage highlight pricing actions, AI initiatives and special-waste campaign results — strategic positives but with timing/scale uncertainty. Article Title Earnings Transcript
• Negative Sentiment: Net profit fell to US$219.3M in Q1 from US$241.5M a year ago and management discussed margin pressure — investors may be worried about near-term margin compression and revenue mix. Article Title

Waste Connections Stock Down 1.8%

WCN opened at $165.80 on Friday. The business's fifty day simple moving average is $164.15 and its 200 day simple moving average is $168.83. Waste Connections, Inc. has a 52 week low of $154.90 and a 52 week high of $199.00. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock has a market cap of $42.32 billion, a PE ratio of 40.44, a P/E/G ratio of 2.99 and a beta of 0.61.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The business had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. As a group, research analysts expect that Waste Connections, Inc. will post 5.48 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections's payout ratio is presently 33.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WCN shares. Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the stock an "overweight" rating in a research report on Friday, February 13th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday. Oppenheimer reiterated an "outperform" rating and set a $205.00 price target (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Sanford C. Bernstein reissued an "outperform" rating and issued a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $203.15.

About Waste Connections

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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