Signature Estate & Investment Advisors LLC Increases Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Signature Estate & Investment Advisors LLC has significantly increased its stake in Waste Connections, Inc. by 219.2%, now holding 35,630 shares valued at approximately $6.96 million.
• Waste Connections reported a quarterly earnings per share (EPS) of $1.29, exceeding analysts' estimates of $1.25, and generated $2.41 billion in revenue.
• The company announced a quarterly dividend of $0.315 per share, representing an annualized dividend of $1.26 and a dividend yield of 0.7%.

Signature Estate & Investment Advisors LLC raised its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 219.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,630 shares of the business services provider's stock after purchasing an additional 24,469 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Waste Connections were worth $6,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Checchi Capital Advisers LLC raised its position in Waste Connections by 4.6% in the 1st 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. MWA Asset Management raised its position in Waste Connections by 1.2% in the 1st quarter. MWA Asset Management now owns 4,783 shares of the business services provider's stock valued at $934,000 after purchasing an additional 57 shares in the last quarter. Tranquility Partners LLC raised its position in Waste Connections by 1.4% in the 1st 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. MAI Capital Management raised its position in Waste Connections by 6.0% in the 1st quarter. MAI Capital Management now owns 1,116 shares of the business services provider's stock valued at $218,000 after purchasing an additional 63 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Waste Connections by 29.2% in the 1st 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. Institutional investors and hedge funds own 86.09% of the company's stock.

Analysts Set New Price Targets

WCN has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their price target on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 24th. Citigroup cut their target price on Waste Connections from $208.00 to $204.00 and set a "neutral" rating on the stock in a research report on Monday, July 28th. Oppenheimer raised their target price on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, CIBC reissued an "outperform" rating on shares of Waste Connections in a research report on Friday, July 25th. Five equities research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Performance

NYSE:WCN traded down $1.42 during mid-day trading on Wednesday, reaching $176.19. 1,293,816 shares of the stock were exchanged, compared to its average volume of 950,840. The company has a 50 day simple moving average of $184.25 and a 200-day simple moving average of $188.90. The stock has a market capitalization of $45.30 billion, a P/E ratio of 71.04, a P/E/G ratio of 3.20 and a beta of 0.61. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. 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, August 21st. Investors of record on Wednesday, August 6th were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is currently 50.81%.

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.