Waste Connections, Inc. $WCN Holdings Lifted by Visualize Group LP

Key Points

• Visualize Group LP increased its stake in Waste Connections, Inc. by 61.9%, making it the biggest position in their portfolio, with 294,689 shares valued at approximately $57.5 million.
• Several institutional investors saw significant growth in their positions in Waste Connections, with notable increases up to 994.4% from companies like Larson Financial Group LLC.
• Waste Connections reported a 7.1% year-over-year increase in revenue, with earnings per share (EPS) of $1.29 for the last quarter, surpassing consensus estimates.

Visualize Group LP lifted its position in Waste Connections, Inc. (NYSE:WCN - Free Report) by 61.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,689 shares of the business services provider's stock after acquiring an additional 112,700 shares during the quarter. Waste Connections accounts for approximately 18.9% of Visualize Group LP's holdings, making the stock its largest position. Visualize Group LP owned 0.11% of Waste Connections worth $57,520,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ramirez Asset Management Inc. grew its position in shares of Waste Connections by 122.0% in the 1st 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 in the last quarter. Larson Financial Group LLC grew its position in shares of Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider's stock worth $38,000 after acquiring an additional 179 shares in the last quarter. Global Financial Private Client LLC grew its position in shares of Waste Connections by 890.0% in the 1st quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider's stock worth $39,000 after acquiring an additional 178 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of Waste Connections by 232.3% in the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider's stock worth $41,000 after acquiring an additional 151 shares in the last quarter. Finally, Louisbourg Investments Inc. grew its position in shares of Waste Connections by 128.6% in the 1st quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider's stock worth $47,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.

Waste Connections Price Performance

Shares of NYSE WCN traded down $1.42 during mid-day trading on Wednesday, reaching $176.19. The company had a trading volume of 1,293,816 shares, compared to its average volume of 950,840. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock has a market cap of $45.30 billion, a PE ratio of 71.04, a P/E/G ratio of 3.20 and a beta of 0.61. The company has a 50-day moving average price of $184.25 and a two-hundred day moving average price of $188.90. 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 results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating 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 business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. Waste Connections's revenue for the quarter was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. On average, 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 declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.315 per share. The ex-dividend date was Wednesday, August 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.7%. Waste Connections's payout ratio is currently 50.81%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank Of Canada decreased their target price on Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Atb Cap Markets raised Waste Connections from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 24th. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Melius Research raised Waste Connections to a "strong-buy" rating and set a $213.00 price objective on the stock in a research note on Monday, June 9th. Finally, Raymond James Financial dropped their price objective on Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $215.00.

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.