Waste Connections, Inc. $WCN Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Waste Connections, Inc. by 14.1%, now holding 24,399 shares valued at $4.56 million after selling 4,001 shares in Q2.
• Waste Connections reported $1.29 earnings per share for the latest quarter, exceeding analyst expectations, with a notable 7.1% increase in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.315 per share, with a current payout ratio of 50.81%.

Prime Capital Investment Advisors LLC trimmed its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,399 shares of the business services provider's stock after selling 4,001 shares during the period. Prime Capital Investment Advisors LLC's holdings in Waste Connections were worth $4,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Waste Connections by 29.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,932 shares of the business services provider's stock valued at $1,018,000 after acquiring an additional 1,357 shares in the last quarter. Merit Financial Group LLC increased its position in shares of Waste Connections by 92.8% in the 1st quarter. Merit Financial Group LLC now owns 3,551 shares of the business services provider's stock worth $693,000 after purchasing an additional 1,709 shares during the last quarter. Procyon Advisors LLC raised its stake in shares of Waste Connections by 34.9% in the 1st quarter. Procyon Advisors LLC now owns 2,800 shares of the business services provider's stock valued at $547,000 after purchasing an additional 724 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Waste Connections during the first quarter worth about $206,000. Finally, USA Financial Formulas lifted its position in shares of Waste Connections by 28.0% during the first quarter. USA Financial Formulas now owns 489 shares of the business services provider's stock worth $95,000 after purchasing an additional 107 shares during the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of WCN opened at $174.15 on Tuesday. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The company has a market cap of $44.69 billion, a price-to-earnings ratio of 70.22, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day moving average of $180.93 and a 200-day moving average of $187.19.

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

Waste Connections Dividend Announcement

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

Analyst Upgrades and Downgrades

WCN has been the topic of several research reports. Oppenheimer upped their price objective on Waste Connections from $216.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Stifel Nicolaus assumed coverage on Waste Connections in a report on Tuesday, September 30th. They issued a "buy" rating and a $221.00 price target for the company. Raymond James Financial set a $213.00 price objective on Waste Connections and gave the stock a "strong-buy" rating in a research note on Monday. Atb Cap Markets raised shares of Waste Connections from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Finally, Barclays initiated coverage on shares of Waste Connections in a report on Friday, September 19th. They set an "equal weight" rating and a $192.00 target price on the stock. Five research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $213.79.

About Waste Connections

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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