Triasima Portfolio Management inc. Trims Stock Position in Waste Connections, Inc. $WCN

Key Points

• Triasima Portfolio Management Inc. has reduced its stake in Waste Connections, Inc. by 28.6%, now holding 23,365 shares valued at approximately $4.36 million.
• In the latest quarter, Waste Connections reported earnings of $1.29 per share, exceeding analysts' expectations of $1.25, alongside a revenue of $2.41 billion.
• The company has declared a quarterly dividend of $0.315 per share, with an annualized payout representing a yield of 0.7%.

Triasima Portfolio Management inc. decreased its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 28.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,365 shares of the business services provider's stock after selling 9,364 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Waste Connections were worth $4,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WCN. Nuveen LLC purchased a new stake in Waste Connections in the 1st quarter valued at $623,155,000. Vanguard Group Inc. raised its position in Waste Connections by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock valued at $5,901,049,000 after purchasing an additional 954,242 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Waste Connections by 195.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider's stock valued at $224,961,000 after purchasing an additional 762,468 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Waste Connections by 45.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider's stock valued at $316,532,000 after purchasing an additional 502,986 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Waste Connections by 56.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,147,904 shares of the business services provider's stock valued at $223,779,000 after purchasing an additional 413,212 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of WCN opened at $173.50 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $44.52 billion, a P/E ratio of 69.96, a P/E/G ratio of 3.15 and a beta of 0.62. The company's fifty day moving average is $180.56 and its two-hundred day moving average is $187.09. 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 posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the prior year, the company posted $1.24 EPS. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

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 dividend of $0.315 per share. 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%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WCN. Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a research report on Saturday, September 27th. National Bankshares reduced their price target on shares of Waste Connections from $211.00 to $196.00 and set an "outperform" rating for the company in a research report on Tuesday. Citigroup reduced their price target on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating for the company in a research report on Wednesday, September 17th. Raymond James Financial set a $213.00 price objective on shares of Waste Connections and gave the company a "strong-buy" rating in a research note on Monday. Finally, Oppenheimer boosted their price objective on shares of Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $212.60.

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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