Waste Connections, Inc. $WCN is Brasada Capital Management LP's 3rd Largest Position

Key Points

• Brasada Capital Management LP reduced its stake in Waste Connections by 1.7%, making it the fund's 3rd largest holding, valued at approximately $21.15 million.
• Several institutional investors significantly increased their positions in Waste Connections during the 1st quarter, with Ramirez Asset Management Inc. raising its position by 122% and Larson Financial Group LLC by 994.4%.
• Waste Connections reported $1.29 earnings per share (EPS) for the recent quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.315 per share.

Brasada Capital Management LP cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,402 shares of the business services provider's stock after selling 1,966 shares during the period. Waste Connections accounts for 4.0% of Brasada Capital Management LP's portfolio, making the stock its 3rd largest holding. Brasada Capital Management LP's holdings in Waste Connections were worth $21,149,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WCN. First Trust Advisors LP raised its position in Waste Connections by 41.8% in the fourth quarter. First Trust Advisors LP now owns 19,944 shares of the business services provider's stock worth $3,420,000 after acquiring an additional 5,882 shares during the period. Tudor Investment Corp ET AL raised its position in Waste Connections by 232.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 7,252 shares of the business services provider's stock worth $1,244,000 after acquiring an additional 5,073 shares during the period. Northern Trust Corp raised its position in Waste Connections by 18.2% in the fourth quarter. Northern Trust Corp now owns 835,710 shares of the business services provider's stock worth $143,391,000 after acquiring an additional 128,746 shares during the period. AQR Capital Management LLC raised its position in shares of Waste Connections by 83.5% during the 4th quarter. AQR Capital Management LLC now owns 130,787 shares of the business services provider's stock valued at $22,295,000 after purchasing an additional 59,515 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Waste Connections by 3.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 391,062 shares of the business services provider's stock valued at $67,054,000 after purchasing an additional 11,881 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on WCN shares. National Bank Financial upgraded shares of Waste Connections to a "strong-buy" rating in a research report on Monday, May 26th. Scotiabank raised their price objective on shares of Waste Connections from $202.00 to $208.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Raymond James Financial decreased their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 22nd. Oppenheimer raised their price objective on shares of Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Melius Research upgraded shares of Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a research report on Monday, June 9th. Five investment 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 MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $215.00.

Waste Connections Price Performance

WCN traded up $1.86 during trading on Monday, hitting $185.10. 690,040 shares of the company traded hands, compared to its average volume of 943,188. The company has a market cap of $47.83 billion, a PE ratio of 74.64, a P/E/G ratio of 3.33 and a beta of 0.61. The stock's 50-day simple moving average is $185.09 and its two-hundred day simple moving average is $189.33. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. 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 (NYSE:WCN - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share 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%. Waste Connections's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. Waste Connections's dividend payout ratio (DPR) is presently 50.81%.

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.