Osterweis Capital Management Inc. Has $40.84 Million Position in Waste Connections, Inc. $WCN

Key Points

• Osterweis Capital Management Inc. reduced its stake in Waste Connections by 2.7%, holding approximately 209,225 shares worth about $40.84 million.
• Analysts are optimistic about Waste Connections, with five rating the stock as a Strong Buy and a consensus target price of $215.00.
• Waste Connections announced a quarterly dividend of $0.315 per share, representing an annualized yield of 0.7% with a payout ratio of 50.81%.

Osterweis Capital Management Inc. reduced its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 209,225 shares of the business services provider's stock after selling 5,878 shares during the quarter. Waste Connections makes up 0.0% of Osterweis Capital Management Inc.'s investment portfolio, making the stock its 21st largest holding. Osterweis Capital Management Inc. owned approximately 0.08% of Waste Connections worth $40,839,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ramirez Asset Management Inc. lifted its holdings in Waste Connections by 122.0% in the 1st 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 during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Waste Connections by 994.4% during the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after buying an additional 179 shares during the last quarter. Global Financial Private Client LLC lifted its holdings in shares of Waste Connections by 890.0% during the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after buying an additional 178 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after buying an additional 151 shares during the last quarter. Finally, Louisbourg Investments Inc. lifted its holdings in shares of Waste Connections by 128.6% during the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock worth $47,000 after buying an additional 135 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WCN. Melius began coverage on Waste Connections in a report on Monday, June 9th. They set a "buy" rating for the company. Raymond James Financial cut their price target on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a report on Tuesday, July 22nd. Citigroup cut their price target on Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a report on Monday, July 28th. CIBC reiterated an "outperform" rating on shares of Waste Connections 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 investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $215.00.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $178.04 on Friday. The business has a fifty day simple moving average of $184.22 and a 200 day simple moving average of $188.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $45.78 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 3.18 and a beta of 0.61. Waste Connections, Inc. has a one year low of $169.36 and a one 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 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion during 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%.Waste Connections's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Sell-side analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Wednesday, August 6th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, August 6th. Waste Connections's dividend payout ratio is presently 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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