Osterweis Capital Management Inc. Has $40.84 Million Stock Holdings in Waste Connections, Inc. $WCN

Key Points

• Osterweis Capital Management Inc. has reduced its stake in Waste Connections, Inc. by 2.7%, now holding 209,225 shares valued at approximately $40.8 million.
• Waste Connections reported $1.29 earnings per share for the last quarter, exceeding analysts' estimates, with a revenue of $2.41 billion, up 7.1% year-over-year.
• The company announced a quarterly dividend of $0.315 per share, resulting in an annual yield of 0.7%, while its dividend payout ratio stands at 50.81%.

Osterweis Capital Management Inc. reduced its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 209,225 shares of the business services provider's stock after selling 5,878 shares during the quarter. Waste Connections accounts for 0.0% of Osterweis Capital Management Inc.'s investment portfolio, making the stock its 26th biggest holding. Osterweis Capital Management Inc. owned about 0.08% of Waste Connections worth $40,839,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WCN. NewEdge Advisors LLC grew its holdings in shares of Waste Connections by 5.1% during the 4th quarter. NewEdge Advisors LLC now owns 8,569 shares of the business services provider's stock valued at $1,470,000 after acquiring an additional 414 shares in the last quarter. Marshall Wace LLP boosted its holdings in Waste Connections by 315.7% in the fourth quarter. Marshall Wace LLP now owns 65,321 shares of the business services provider's stock worth $11,208,000 after purchasing an additional 49,609 shares in the last quarter. First Trust Advisors LP lifted its position in Waste Connections by 41.8% during the 4th quarter. First Trust Advisors LP now owns 19,944 shares of the business services provider's stock worth $3,420,000 after acquiring an additional 5,882 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Waste Connections by 9.0% during the 4th 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. Finally, Natixis lifted its position in Waste Connections by 2,113.7% during the 4th quarter. Natixis now owns 9,032 shares of the business services provider's stock worth $1,550,000 after acquiring an additional 8,624 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Price Performance

WCN stock traded down $1.7840 during trading on Friday, hitting $184.6960. The company had a trading volume of 805,770 shares, compared to its average volume of 1,097,258. The company has a fifty day moving average price of $185.49 and a two-hundred day moving average price of $189.57. 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 company 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. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66.

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

Waste Connections Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WCN. Melius Research raised shares of Waste Connections to a "strong-buy" rating and set a $213.00 target price for the company in a research report on Monday, June 9th. Truist Financial set a $220.00 price objective on shares of Waste Connections in a research report on Friday, April 25th. BMO Capital Markets upped their price objective on shares of Waste Connections from $214.00 to $216.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Raymond James Financial cut their price objective on shares of Waste Connections from $224.00 to $211.00 and set a "strong-buy" rating for the company in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Waste Connections from $197.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $215.00.

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.