Montrusco Bolton Investments Inc. Buys 732,718 Shares of Waste Connections, Inc. $WCN

Montrusco Bolton Investments Inc. raised its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 46.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,306,702 shares of the business services provider’s stock after purchasing an additional 732,718 shares during the quarter. Waste Connections comprises 4.7% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 7th biggest position. Montrusco Bolton Investments Inc.’s holdings in Waste Connections were worth $419,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MGO One Seven LLC increased its stake in shares of Waste Connections by 14.2% in the second quarter. MGO One Seven LLC now owns 7,291 shares of the business services provider’s stock worth $1,361,000 after acquiring an additional 905 shares during the period. Clarendon Private LLC increased its stake in shares of Waste Connections by 24.2% in the second quarter. Clarendon Private LLC now owns 2,532 shares of the business services provider’s stock worth $473,000 after acquiring an additional 493 shares during the period. CWM LLC increased its stake in shares of Waste Connections by 18.7% in the second quarter. CWM LLC now owns 1,585 shares of the business services provider’s stock worth $296,000 after acquiring an additional 250 shares during the period. OFI Invest Asset Management increased its stake in shares of Waste Connections by 26.1% in the second quarter. OFI Invest Asset Management now owns 526 shares of the business services provider’s stock worth $98,000 after acquiring an additional 109 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Waste Connections by 11.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,934 shares of the business services provider’s stock worth $3,538,000 after acquiring an additional 1,940 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Stock Performance

WCN opened at $172.58 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The company has a market cap of $44.28 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 3.15 and a beta of 0.62. Waste Connections, Inc. has a 52-week low of $169.36 and a 52-week high of $201.66. The firm’s fifty day simple moving average is $179.63 and its two-hundred day simple moving average is $186.63.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share (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 the consensus estimate of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Waste Connections has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Wednesday, August 6th were issued 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 (DPR) is presently 50.81%.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of research reports. National Bankshares cut their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Citigroup lowered their price target on shares of Waste Connections from $204.00 to $199.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Finally, Oppenheimer lowered their price target on shares of Waste Connections from $210.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $211.73.

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.