Montrusco Bolton Investments Inc. Cuts Stock Holdings in Waste Connections, Inc. (NYSE:WCN)

Montrusco Bolton Investments Inc. lowered its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 18.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,573,984 shares of the business services provider's stock after selling 353,916 shares during the period. Waste Connections accounts for 3.9% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 10th largest position. Montrusco Bolton Investments Inc. owned 0.61% of Waste Connections worth $296,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Checchi Capital Advisers LLC increased its holdings in shares of Waste Connections by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after purchasing an additional 56 shares in the last quarter. Tranquility Partners LLC increased its holdings in shares of Waste Connections by 1.4% in the first quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock valued at $850,000 after purchasing an additional 58 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Waste Connections by 29.2% in the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock valued at $55,000 after purchasing an additional 64 shares in the last quarter. Oarsman Capital Inc. increased its holdings in shares of Waste Connections by 41.4% in the fourth quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock valued at $38,000 after purchasing an additional 65 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of Waste Connections by 28.9% in the first quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock valued at $57,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WCN shares. Scotiabank lowered their price target on shares of Waste Connections from $206.00 to $202.00 and set a "sector perform" rating for the company in a report on Friday. Melius assumed coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Truist Financial set a $220.00 target price on shares of Waste Connections in a report on Friday, April 25th. Finally, Melius Research raised shares of Waste Connections to a "strong-buy" rating and set a $213.00 target price for the company in a report on Monday, June 9th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $213.57.

Waste Connections Trading Up 0.3%

Shares of NYSE WCN traded up $0.60 during midday trading on Friday, reaching $182.83. 1,095,675 shares of the stock were exchanged, compared to its average volume of 1,028,279. The business has a 50-day simple moving average of $188.58 and a two-hundred day simple moving average of $188.00. The company has a market capitalization of $47.24 billion, a price-to-earnings ratio of 75.24, a P/E/G ratio of 3.17 and a beta of 0.60. Waste Connections, Inc. has a 12 month low of $169.36 and a 12 month high of $201.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.70.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities research analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were given a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.26 annualized dividend and a yield of 0.69%. Waste Connections's dividend payout ratio is currently 51.85%.

Waste Connections Company 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.