Waste Connections, Inc. $WCN Stock Position Cut by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC trimmed its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,399 shares of the business services provider’s stock after selling 4,001 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Waste Connections were worth $4,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Checchi Capital Advisers LLC lifted its position in Waste Connections by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 1,278 shares of the business services provider’s stock worth $249,000 after purchasing an additional 56 shares during the period. MWA Asset Management raised its stake in shares of 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 buying an additional 57 shares in the last quarter. Tranquility Partners LLC raised its stake in shares of 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 buying an additional 58 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Waste Connections by 6.0% in the first quarter. MAI Capital Management now owns 1,116 shares of the business services provider’s stock valued at $218,000 after buying an additional 63 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in Waste Connections by 29.2% during the first quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider’s stock valued at $55,000 after buying an additional 64 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the stock a “strong-buy” rating in a research report on Monday. Oppenheimer lifted their price objective on shares of Waste Connections from $216.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Stifel Nicolaus initiated coverage on shares of Waste Connections in a research note on Tuesday, September 30th. They set a “buy” rating and a $221.00 target price for the company. Citigroup reduced their target price on shares of Waste Connections from $204.00 to $199.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Finally, Melius initiated coverage on Waste Connections in a report on Monday, June 9th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $213.79.

Waste Connections Stock Performance

Shares of WCN opened at $174.15 on Tuesday. The company has a 50-day moving average of $180.93 and a two-hundred day moving average of $187.19. The stock has a market cap of $44.69 billion, a price-to-earnings ratio of 70.22, a PEG ratio of 3.15 and a beta of 0.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a one year low of $169.36 and a one year high of $201.66.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.25 by $0.04. The business had revenue of $2.41 billion during 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 firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Dividend Announcement

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

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.