Praxis Investment Management Inc. Grows Stock Position in Waste Connections, Inc. (NYSE:WCN)

Praxis Investment Management Inc. boosted its stake in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 91.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,350 shares of the business services provider's stock after purchasing an additional 2,080 shares during the quarter. Praxis Investment Management Inc.'s holdings in Waste Connections were worth $849,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Private Trust Co. NA increased its stake in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock worth $26,000 after buying an additional 92 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Waste Connections in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Waste Connections by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after purchasing an additional 71 shares in the last quarter. Oarsman Capital Inc. lifted its position in shares of Waste Connections by 41.4% during the 4th quarter. Oarsman Capital Inc. now owns 222 shares of the business services provider's stock worth $38,000 after purchasing an additional 65 shares during the last quarter. Finally, Global Financial Private Client LLC lifted its position in shares of Waste Connections by 890.0% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WCN. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Melius initiated coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. BMO Capital Markets increased their target price on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Citigroup lifted their price target on shares of Waste Connections from $209.00 to $212.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Finally, Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a report on Monday, June 9th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Waste Connections has a consensus rating of "Buy" and a consensus target price of $212.29.

Waste Connections Stock Down 0.8%

WCN opened at $185.60 on Friday. 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, Inc. has a 12 month low of $169.36 and a 12 month high of $201.66. The stock has a market capitalization of $47.96 billion, a P/E ratio of 76.38, a P/E/G ratio of 3.22 and a beta of 0.62. The business has a 50 day simple moving average of $193.46 and a 200-day simple moving average of $187.36.

Waste Connections (NYSE:WCN - Get Free Report) last posted 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. Waste Connections had a net margin of 6.93% and a return on equity of 15.74%. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the company posted $1.04 EPS. The business's revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Wednesday, May 7th. Waste Connections's dividend payout ratio (DPR) is 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.

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