AdvisorNet Financial Inc Cuts Stock Holdings in Waste Connections, Inc. $WCN

AdvisorNet Financial Inc lowered its holdings in Waste Connections, Inc. (NYSE:WCN) by 22.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225 shares of the business services provider’s stock after selling 65 shares during the period. AdvisorNet Financial Inc’s holdings in Waste Connections were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WCN. Ramirez Asset Management Inc. boosted its position in Waste Connections by 122.0% in the first quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC boosted its position in Waste Connections by 994.4% in the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Global Financial Private Client LLC boosted its position in Waste Connections by 890.0% in the first quarter. Global Financial Private Client LLC now owns 198 shares of the business services provider’s stock worth $39,000 after purchasing an additional 178 shares during the last quarter. Valley National Advisers Inc. boosted its position in Waste Connections by 232.3% in the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock worth $41,000 after purchasing an additional 151 shares during the last quarter. Finally, Louisbourg Investments Inc. boosted its position in Waste Connections by 128.6% in the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

NYSE:WCN opened at $172.29 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.67 and a current ratio of 0.67. 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 $44.21 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 3.11 and a beta of 0.61. The business’s fifty day moving average is $182.26 and its 200 day moving average is $187.75.

Waste Connections (NYSE:WCN) 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. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the company posted $1.24 EPS. The firm’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. Research analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on WCN. Barclays began coverage on Waste Connections in a research report on Friday, September 19th. They issued an “equal weight” rating and a $192.00 price objective on the stock. Scotiabank boosted their price objective on Waste Connections from $202.00 to $208.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Royal Bank Of Canada lowered their target price 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. Finally, Oppenheimer boosted their target price on Waste Connections from $216.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $213.00.

Waste Connections Company 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.