Waste Connections, Inc. (NYSE:WCN) Holdings Raised by Bank of Nova Scotia Trust Co.

Key Points

• Bank of Nova Scotia Trust Co. increased its holdings in Waste Connections, Inc. by 3.0% in the first quarter, owning 112,013 shares worth approximately $21.86 million.
• Waste Connections reported an earnings per share (EPS) of $1.29 for the last quarter, exceeding estimates, with a revenue increase of 7.1% year-over-year.
• The company declared a quarterly dividend of $0.315, with an annualized yield of 0.7%, scheduled for payment on August 21st.

Bank of Nova Scotia Trust Co. raised its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,013 shares of the business services provider's stock after buying an additional 3,257 shares during the quarter. Waste Connections comprises about 2.3% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 11th biggest holding. Bank of Nova Scotia Trust Co.'s holdings in Waste Connections were worth $21,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of WCN. Aster Capital Management DIFC Ltd acquired a new stake in Waste Connections in the fourth quarter valued at approximately $28,000. Ramirez Asset Management Inc. raised its holdings in 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 acquiring an additional 100 shares in the last quarter. Larson Financial Group LLC raised its holdings 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 valued at $38,000 after acquiring an additional 179 shares in the last quarter. Global Financial Private Client LLC raised its holdings in Waste Connections by 890.0% in the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock valued at $39,000 after acquiring an additional 178 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in 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 acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Performance

WCN traded down $0.03 during trading on Friday, reaching $186.64. 1,129,567 shares of the company were exchanged, compared to its average volume of 1,421,564. The stock has a market cap of $48.23 billion, a P/E ratio of 75.26, a PEG ratio of 3.36 and a beta of 0.58. The firm has a 50 day moving average of $187.34 and a 200 day moving average of $189.08. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The firm had revenue of $2.41 billion during 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 revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. On average, sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.26 annualized dividend and a dividend yield of 0.7%. Waste Connections's dividend payout ratio is presently 50.81%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WCN. Royal Bank Of Canada reduced their target price on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Truist Financial set a $220.00 price target on shares of Waste Connections in a research note on Friday, April 25th. Melius began coverage on shares of Waste Connections in a research note on Monday, June 9th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Seaport Res Ptn upgraded shares of Waste Connections to a "strong-buy" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $215.00.

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.