Waste Connections, Inc. $WCN Shares Purchased by Aviso Financial Inc.

Key Points

• Aviso Financial Inc. increased its stake in Waste Connections, Inc. by 12.8%, owning 44,995 shares valued at approximately $8.77 million after acquiring an additional 5,103 shares in Q1.
• Waste Connections has received positive ratings from analysts, with four analysts rating it as a hold, eleven as buy, and five as strong buy, reflecting a consensus rating of "Buy" and an average price target of $215.00.
• The company reported quarterly earnings of $1.29 per share, exceeding expectations, with revenue reaching $2.41 billion, indicating a 7.1% growth year-over-year.

Aviso Financial Inc. boosted its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,995 shares of the business services provider's stock after buying an additional 5,103 shares during the quarter. Aviso Financial Inc.'s holdings in Waste Connections were worth $8,773,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp grew its position in Waste Connections by 7.2% in the first quarter. Northern Trust Corp now owns 896,243 shares of the business services provider's stock worth $174,938,000 after buying an additional 60,533 shares during the last quarter. Brooklyn Investment Group boosted its stake in Waste Connections by 62.7% in the 1st quarter. Brooklyn Investment Group now owns 537 shares of the business services provider's stock worth $105,000 after purchasing an additional 207 shares during the period. Corient IA LLC acquired a new position in Waste Connections in the 1st quarter worth approximately $586,000. Northwest & Ethical Investments L.P. boosted its stake in Waste Connections by 106.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 56,462 shares of the business services provider's stock worth $11,012,000 after purchasing an additional 29,137 shares during the period. Finally, Boston Family Office LLC acquired a new stake in shares of Waste Connections during the 1st quarter valued at $313,000. Institutional investors and hedge funds own 86.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WCN shares. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Citigroup decreased their target price on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a research note on Monday, July 28th. Melius initiated coverage on shares of Waste Connections in a report on Monday, June 9th. They set a "buy" rating on the stock. Finally, Truist Financial set a $220.00 price target on shares of Waste Connections in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $215.00.

Waste Connections Stock Performance

NYSE WCN opened at $184.78 on Monday. The firm has a market cap of $47.75 billion, a price-to-earnings ratio of 74.51, a PEG ratio of 3.33 and a beta of 0.58. The company has a 50 day moving average of $185.91 and a 200-day moving average of $189.63. 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 1-year low of $169.36 and a 1-year 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company posted $1.24 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

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

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.

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