Waste Connections, Inc. $WCN Shares Acquired by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC increased its holdings in Waste Connections, Inc. by 24.4%, acquiring 2,312 additional shares, bringing its total to 11,787 shares valued at $2.2 million at the end of the second quarter.
• Waste Connections reported a net margin of 6.97% and revenues of $2.41 billion for the quarter, exceeding analysts' expectations and marking a 7.1% year-over-year growth.
• The company declared a quarterly dividend of $0.315, representing a 0.7% yield based on an annualized dividend of $1.26, with a payout ratio of 50.81%.

Mattson Financial Services LLC grew its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 24.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,787 shares of the business services provider's stock after acquiring an additional 2,312 shares during the period. Mattson Financial Services LLC's holdings in Waste Connections were worth $2,201,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ramirez Asset Management Inc. raised its position in shares of Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider's stock worth $36,000 after acquiring an additional 100 shares during the period. Larson Financial Group LLC raised its position in shares of Waste Connections by 994.4% during the 1st 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. Valley National Advisers Inc. raised its position in shares of Waste Connections by 232.3% during 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 last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Waste Connections during the 2nd quarter worth about $51,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Waste Connections by 29.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock worth $55,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Stock Performance

Waste Connections stock opened at $170.80 on Friday. The firm has a 50 day simple moving average of $178.34 and a 200-day simple moving average of $186.11. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. 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 $43.83 billion, a price-to-earnings ratio of 68.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.62.

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, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter 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, analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WCN. Scotiabank set a $208.00 price target on shares of Waste Connections in a research report on Friday, October 10th. Stifel Nicolaus began coverage on shares of Waste Connections in a research report on Tuesday, September 30th. They set a "buy" rating and a $221.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Barclays began coverage on shares of Waste Connections in a report on Friday, September 19th. They issued an "equal weight" rating and a $192.00 price objective for the company. Finally, Citigroup cut their price objective on shares of Waste Connections from $204.00 to $199.00 and set a "neutral" rating for the company in a report on Wednesday, September 17th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $210.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.