Atria Wealth Solutions Inc. Increases Holdings in Waste Connections, Inc. (NYSE:WCN)

Atria Wealth Solutions Inc. lifted its position in Waste Connections, Inc. (NYSE:WCN) by 23.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,428 shares of the business services provider’s stock after purchasing an additional 834 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Waste Connections were worth $864,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. New Age Alpha Advisors LLC raised its position in Waste Connections by 13.8% during the first quarter. New Age Alpha Advisors LLC now owns 2,843 shares of the business services provider’s stock valued at $555,000 after acquiring an additional 344 shares in the last quarter. MWA Asset Management raised its position in Waste Connections by 1.2% during the first quarter. MWA Asset Management now owns 4,783 shares of the business services provider’s stock valued at $934,000 after acquiring an additional 57 shares in the last quarter. Scotia Capital Inc. raised its position in Waste Connections by 9.1% during the first quarter. Scotia Capital Inc. now owns 371,532 shares of the business services provider’s stock valued at $72,519,000 after acquiring an additional 31,136 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its position in Waste Connections by 3.0% during the first quarter. Bank of Nova Scotia Trust Co. now owns 112,013 shares of the business services provider’s stock valued at $21,864,000 after acquiring an additional 3,257 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Waste Connections by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 89,435 shares of the business services provider’s stock valued at $17,457,000 after acquiring an additional 1,715 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $190.56 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50 day moving average price is $186.40 and its 200-day moving average price is $189.56. The firm has a market capitalization of $49.24 billion, a PE ratio of 76.84, a P/E/G ratio of 3.39 and a beta of 0.58. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Wednesday, August 6th will be paid a $0.315 dividend. The ex-dividend date of this dividend is 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 currently 50.81%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WCN shares. Truist Financial set a $220.00 price target on Waste Connections in a research report on Friday, April 25th. Citigroup reduced their price target on Waste Connections from $208.00 to $204.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Scotiabank lifted their price target on Waste Connections from $202.00 to $208.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Raymond James Financial dropped their price objective on Waste Connections from $224.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 22nd. Finally, Seaport Res Ptn raised Waste Connections to a “strong-buy” rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $215.00.

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.