Waste Connections, Inc. (NYSE:WCN) Position Cut by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,378 shares of the business services provider’s stock after selling 349 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Waste Connections were worth $1,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Union Bancaire Privee UBP SA lifted its stake in shares of Waste Connections by 2.3% in the 1st quarter. Union Bancaire Privee UBP SA now owns 16,033 shares of the business services provider’s stock worth $2,970,000 after acquiring an additional 360 shares during the period. Simon Quick Advisors LLC acquired a new position in Waste Connections during the first quarter worth about $220,000. USA Financial Formulas grew its holdings in 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 acquiring an additional 107 shares during the period. Sivia Capital Partners LLC acquired a new position in Waste Connections during the first quarter worth about $206,000. Finally, Gateway Investment Advisers LLC grew its holdings in Waste Connections by 0.5% during the first quarter. Gateway Investment Advisers LLC now owns 71,644 shares of the business services provider’s stock worth $13,984,000 after acquiring an additional 390 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Waste Connections from $197.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. National Bank Financial raised Waste Connections to a “strong-buy” rating in a report on Monday, May 26th. Melius began coverage on Waste Connections in a research note on Monday, June 9th. They issued a “buy” rating on the stock. Truist Financial set a $220.00 price target 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 note on Friday, April 25th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $212.29.

Waste Connections Stock Down 0.4%

Shares of Waste Connections stock opened at $190.60 on Friday. The firm has a market cap of $49.25 billion, a price-to-earnings ratio of 79.75, a P/E/G ratio of 3.07 and a beta of 0.62. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. Waste Connections, Inc. has a 52-week low of $167.51 and a 52-week high of $201.66. The stock has a 50-day simple moving average of $193.90 and a 200-day simple moving average of $187.54.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.06. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. On average, equities research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Wednesday, May 7th were issued a $0.315 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.26 annualized dividend and a yield of 0.66%. Waste Connections’s dividend payout ratio (DPR) is currently 51.85%.

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.