Financiere des Professionnels Fonds d investissement inc. Has $1.24 Million Position in Waste Connections, Inc. $WCN

Key Points

• Financiere des Professionnels Fonds d'investissement inc. reduced its stake in Waste Connections, Inc. by 18.3%, owning 6,638 shares worth approximately $1,239,000 after selling 1,487 shares in the second quarter.
• Waste Connections reported a quarterly earnings per share (EPS) of $1.29, exceeding analysts' expectations of $1.25, alongside a 7.1% increase in revenue year-over-year, totaling $2.41 billion.
• The company recently declared a quarterly dividend of $0.315 per share, with an annualized yield of 0.7%, and a current payout ratio of 50.81%.

Financiere des Professionnels Fonds d investissement inc. reduced its stake in Waste Connections, Inc. (NYSE:WCN - Free Report) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,638 shares of the business services provider's stock after selling 1,487 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Waste Connections were worth $1,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WCN. Nuveen LLC acquired a new position in shares of Waste Connections during the 1st quarter worth about $623,155,000. Vanguard Group Inc. raised its stake in Waste Connections by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider's stock valued at $5,901,049,000 after purchasing an additional 954,242 shares during the last quarter. GAMMA Investing LLC raised its stake in Waste Connections by 19,519.1% during the 1st quarter. GAMMA Investing LLC now owns 918,564 shares of the business services provider's stock valued at $179,295,000 after purchasing an additional 913,882 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Waste Connections by 195.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider's stock valued at $224,961,000 after purchasing an additional 762,468 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Waste Connections by 45.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider's stock valued at $316,532,000 after purchasing an additional 502,986 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Trading Down 0.7%

Shares of NYSE WCN traded down $1.25 during midday trading on Friday, hitting $174.16. The stock had a trading volume of 1,514,518 shares, compared to its average volume of 1,085,095. The company's 50-day simple moving average is $183.37 and its 200 day simple moving average is $188.21. The firm has a market cap of $44.78 billion, a P/E ratio of 70.23, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week 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.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company earned $1.24 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 6th. Waste Connections's payout ratio is currently 50.81%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Oppenheimer upped 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. Barclays assumed coverage on Waste Connections in a report on Friday. They issued an "equal weight" rating and a $192.00 price target for the company. Royal Bank Of Canada cut their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. National Bank Financial upgraded Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Finally, Scotiabank increased 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 note on Friday, July 25th. Five analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Connections presently has a consensus rating of "Buy" and an average target price of $213.00.

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.