Waste Connections, Inc. $WCN Stock Position Decreased by Candriam S.C.A.

Key Points

• Candriam S.C.A. decreased its position in Waste Connections, Inc. by 34.6%, owning 205,685 shares after selling 108,894 shares in the first quarter.
• Waste Connections reported $1.29 earnings per share (EPS) for the last quarter, beating expectations of $1.25, with a year-over-year revenue increase of 7.1%.
• The company recently announced a quarterly dividend of $0.315, with an ex-dividend date of August 6, representing a 0.7% yield.

Candriam S.C.A. cut its position in shares of Waste Connections, Inc. (NYSE:WCN - Free Report) by 34.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,685 shares of the business services provider's stock after selling 108,894 shares during the period. Candriam S.C.A. owned 0.08% of Waste Connections worth $40,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ramirez Asset Management Inc. raised its stake 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 valued at $36,000 after acquiring an additional 100 shares in the last quarter. Larson Financial Group LLC raised its stake 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 valued at $38,000 after acquiring an additional 179 shares in the last quarter. Global Financial Private Client LLC raised its stake 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 valued at $39,000 after acquiring an additional 178 shares in the last quarter. Valley National Advisers Inc. raised its stake 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 valued at $41,000 after acquiring an additional 151 shares in the last quarter. Finally, Louisbourg Investments Inc. raised its stake 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 valued at $47,000 after acquiring an additional 135 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

WCN opened at $186.1430 on Wednesday. The stock has a market cap of $48.10 billion, a PE ratio of 75.06, a P/E/G ratio of 3.33 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66. The stock's 50 day simple moving average is $185.77 and its 200-day simple moving average is $189.62.

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 (EPS) for the quarter, beating 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 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 period in the previous year, the business posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Wednesday, August 6th will be paid a $0.315 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.26 annualized dividend and a yield of 0.7%. Waste Connections's payout ratio is currently 50.81%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WCN shares. CIBC reissued an "outperform" rating on shares of Waste Connections in a research note on Friday, July 25th. National Bank Financial raised Waste Connections to a "strong-buy" rating in a research note on Monday, May 26th. Royal Bank Of Canada cut their price objective on Waste Connections from $221.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Truist Financial set a $220.00 price objective on Waste Connections in a research note on Friday, April 25th. Finally, BMO Capital Markets lifted their price target on Waste Connections from $214.00 to $216.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Five analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Waste Connections presently has an average rating of "Buy" and an average price target 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.

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