Wellington Management Group LLP Lowers Position in Waste Connections, Inc. $WCN

Key Points

• Wellington Management Group LLP has reduced its holdings in Waste Connections, Inc. by 14.4%, selling 572,783 shares in the first quarter and now owning approximately 1.32% of the company.
• Analysts have a consensus rating of "Buy" on Waste Connections, with price targets ranging from $204 to $218.
• The company recently announced a quarterly dividend of $0.315 per share, providing an annualized yield of 0.7%.

Wellington Management Group LLP cut its holdings in Waste Connections, Inc. (NYSE:WCN - Free Report) by 14.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,410,382 shares of the business services provider's stock after selling 572,783 shares during the quarter. Wellington Management Group LLP owned approximately 1.32% of Waste Connections worth $665,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of WCN. Checchi Capital Advisers LLC lifted its holdings in shares of Waste Connections by 4.6% during the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider's stock valued at $249,000 after purchasing an additional 56 shares during the last quarter. MWA Asset Management raised its holdings in Waste Connections by 1.2% in the 1st quarter. MWA Asset Management now owns 4,783 shares of the business services provider's stock worth $934,000 after acquiring an additional 57 shares during the last quarter. Tranquility Partners LLC raised its holdings in Waste Connections by 1.4% in the 1st quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider's stock worth $850,000 after acquiring an additional 58 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Waste Connections by 29.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider's stock worth $55,000 after acquiring an additional 64 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Waste Connections by 28.9% in the 1st quarter. AdvisorNet Financial Inc now owns 290 shares of the business services provider's stock worth $57,000 after acquiring an additional 65 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WCN. Truist Financial set a $220.00 price objective on shares of Waste Connections in a report on Friday, April 25th. Melius began coverage on shares of Waste Connections in a report on Monday, June 9th. They issued a "buy" rating for the company. CIBC restated an "outperform" rating on shares of Waste Connections in a report on Friday, July 25th. Royal Bank Of Canada decreased their price objective on shares of Waste Connections from $221.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Finally, Citigroup decreased their price objective on shares of Waste Connections from $208.00 to $204.00 and set a "neutral" rating for the company in a report on Monday, July 28th. Five investment 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 MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $215.00.

Waste Connections Stock Performance

NYSE:WCN traded down $1.7840 during trading hours on Friday, reaching $184.6960. The company had a trading volume of 805,770 shares, compared to its average volume of 1,130,190. 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 52 week low of $169.36 and a 52 week high of $201.66. The firm has a market cap of $47.72 billion, a price-to-earnings ratio of 74.47, a PEG ratio of 3.35 and a beta of 0.58. The firm's 50 day moving average price is $185.61 and its 200-day moving average price is $189.59.

Waste Connections (NYSE:WCN - Get Free Report) last posted its earnings results 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 net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm's revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. On average, analysts forecast that Waste Connections, Inc. will post 5.28 EPS 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 of this dividend 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 presently 50.81%.

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.