UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Holdings in Waste Connections, Inc. $WCN

Key Points

• UBS AM increased its stake in Waste Connections by 13.0%, acquiring an additional 151,324 shares, bringing their total ownership to approximately 1,315,114 shares valued at $256.7 million.
• Multiple hedge funds, including Cetera Investment Advisers and Nuveen Asset Management, have also recently boosted their positions in Waste Connections, reflecting a broader institutional interest in the company.
• Waste Connections reported a quarterly earnings per share of $1.29, surpassing analyst expectations, with a revenue of $2.41 billion, up 7.1% year-over-year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,315,114 shares of the business services provider's stock after acquiring an additional 151,324 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.51% of Waste Connections worth $256,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ramirez Asset Management Inc. lifted its stake in Waste Connections by 122.0% during the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. Larson Financial Group LLC boosted its position in Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Global Financial Private Client LLC increased 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 valued at $39,000 after purchasing an additional 178 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Waste Connections by 232.3% in the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after purchasing an additional 151 shares during the period. Finally, Louisbourg Investments Inc. increased its holdings in Waste Connections by 128.6% during the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock valued at $47,000 after buying an additional 135 shares during the last quarter. Institutional investors own 86.09% of the company's stock.

Waste Connections Price Performance

Shares of NYSE:WCN traded down $2.04 during midday trading on Friday, hitting $176.10. The company had a trading volume of 1,527,286 shares, compared to its average volume of 1,001,709. The business's 50-day simple moving average is $184.14 and its 200-day simple moving average is $188.74. 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 $45.28 billion, a price-to-earnings ratio of 71.01, a price-to-earnings-growth ratio of 3.21 and a beta of 0.61. Waste Connections, Inc. has a twelve month low of $169.36 and a twelve month high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate 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 net margin of 6.97% and a return on equity of 15.72%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. On average, research analysts predict 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. Investors of record on Wednesday, August 6th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, August 6th. Waste Connections's payout ratio is 50.81%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Waste Connections from $197.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. CIBC restated an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. Scotiabank increased their price target on Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Five research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $215.00.

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.