Waste Connections, Inc. $WCN Position Trimmed by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has reduced its stake in Waste Connections, Inc. by 32.6%, now holding approximately 229,363 shares valued at $44.76 million.
• Waste Connections reported $1.29 earnings per share for the last quarter, exceeding analyst expectations of $1.25, with revenue increasing by 7.1% year-over-year.
• The company has declared a quarterly dividend of $0.315, yielding 0.7%, and has set an earnings per share guidance of 5.28 for the current fiscal year.

Acadian Asset Management LLC lessened its holdings in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,363 shares of the business services provider's stock after selling 110,724 shares during the quarter. Acadian Asset Management LLC owned approximately 0.09% of Waste Connections worth $44,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Glenview Trust co purchased a new position in Waste Connections during the 1st quarter valued at about $222,000. Ilmarinen Mutual Pension Insurance Co grew its stake in Waste Connections by 65.3% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 78,500 shares of the business services provider's stock valued at $15,322,000 after acquiring an additional 31,000 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Waste Connections by 13.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,315,114 shares of the business services provider's stock valued at $256,697,000 after acquiring an additional 151,324 shares in the last quarter. Woodline Partners LP purchased a new position in Waste Connections during the 1st quarter valued at about $14,268,000. Finally, Ascent Group LLC purchased a new position in Waste Connections during the 1st quarter valued at about $291,000. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $176.19 on Thursday. The business's fifty day moving average price is $184.25 and its two-hundred day moving average price is $188.90. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The stock has a market capitalization of $45.30 billion, a price-to-earnings ratio of 71.04, a price-to-earnings-growth ratio of 3.20 and a beta of 0.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The firm 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 business posted $1.24 earnings per share. The business's revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. As a group, analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were given a $0.315 dividend. 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 is 50.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WCN shares. Royal Bank Of Canada reduced their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Citigroup reduced their target price on Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Melius Research upgraded Waste Connections to a "strong-buy" rating and set a $213.00 target price for the company in a report on Monday, June 9th. Oppenheimer boosted their target price on Waste Connections from $216.00 to $218.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Scotiabank boosted their target price on Waste Connections from $202.00 to $208.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, eleven have assigned 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 price target of $215.00.

About Waste Connections

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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