Praxis Investment Management Inc. Sells 2,080 Shares of Waste Connections, Inc. $WCN

Key Points

• Praxis Investment Management Inc. reduced its holdings in Waste Connections, Inc. by 47.8%, now owning 2,270 shares valued at approximately $424,000.
• During the first quarter, several institutional investors increased their positions significantly, with Ramirez Asset Management Inc. raising its holdings by 122% and Larson Financial Group LLC by 994.4%.
• Waste Connections reported a 7.1% year-over-year revenue increase, with earnings per share (EPS) of $1.29, exceeding analysts' estimates of $1.25.

Praxis Investment Management Inc. trimmed its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 47.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,270 shares of the business services provider's stock after selling 2,080 shares during the quarter. Praxis Investment Management Inc.'s holdings in Waste Connections were worth $424,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ramirez Asset Management Inc. raised its holdings in shares of Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after buying an additional 100 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 buying an additional 179 shares during the last quarter. Valley National Advisers Inc. raised its holdings 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 last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Waste Connections in the second quarter valued at about $51,000. Finally, Hexagon Capital Partners LLC raised 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 buying an additional 64 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Stock Performance

Shares of WCN stock opened at $172.68 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $44.31 billion, a PE ratio of 69.63, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. The stock has a 50-day moving average of $178.03 and a 200-day moving average of $185.87. 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 announced its quarterly 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 company had revenue of $2.41 billion during the quarter, compared to analysts' expectations 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 business posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.28 earnings per share 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 paid a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections's dividend payout ratio is 50.81%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays assumed coverage on Waste Connections in a report on Friday, September 19th. They set an "equal weight" rating and a $192.00 price objective for the company. Royal Bank Of Canada dropped their price objective on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Oppenheimer dropped their price objective on Waste Connections from $210.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, October 8th. Stifel Nicolaus assumed coverage on Waste Connections in a report on Tuesday, September 30th. They set a "buy" rating and a $221.00 price objective for the company. Finally, Atb Cap Markets raised 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, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $210.38.

Waste Connections 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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