Waste Connections, Inc. $WCN Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Waste Connections, Inc. by 34.9%, selling 353,667 shares, which now makes up 0.8% of its portfolio.
• Waste Connections reported a quarterly earnings per share of $1.29, exceeding analysts' estimates of $1.25, with revenue reaching $2.41 billion.
• The company declared a quarterly dividend of $0.315, resulting in an annualized yield of 0.7% and a payout ratio of 50.81%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 34.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 659,417 shares of the business services provider's stock after selling 353,667 shares during the quarter. Waste Connections accounts for approximately 0.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's portfolio, making the stock its 21st largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.26% of Waste Connections worth $128,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in shares of 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 valued at $3,420,000 after purchasing an additional 5,882 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Waste Connections by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 432,597 shares of the business services provider's stock worth $74,224,000 after acquiring an additional 35,689 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Waste Connections by 136.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,539 shares of the business services provider's stock worth $950,000 after acquiring an additional 3,199 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Waste Connections by 7.4% during the fourth quarter. Hsbc Holdings PLC now owns 266,105 shares of the business services provider's stock valued at $45,623,000 after acquiring an additional 18,364 shares during the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Waste Connections by 130.0% during the fourth quarter. MGO One Seven LLC now owns 6,687 shares of the business services provider's stock valued at $1,147,000 after acquiring an additional 3,780 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Price Performance

Shares of WCN stock opened at $184.6960 on Friday. The firm has a market cap of $47.72 billion, a P/E ratio of 74.47, a P/E/G ratio of 3.36 and a beta of 0.58. 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, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The firm has a fifty day moving average of $185.49 and a two-hundred day moving average of $189.57.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were issued 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 payout ratio is 50.81%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Raymond James Financial lowered their price target on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a report on Tuesday, July 22nd. National Bank Financial raised shares of Waste Connections to a "strong-buy" rating in a report on Monday, May 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Five research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.

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