Janney Montgomery Scott LLC Trims Stock Position in Waste Connections, Inc. $WCN

Janney Montgomery Scott LLC cut its position in shares of Waste Connections, Inc. (NYSE:WCN) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,133 shares of the business services provider’s stock after selling 884 shares during the period. Janney Montgomery Scott LLC’s holdings in Waste Connections were worth $3,759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Addenda Capital Inc. grew its holdings in shares of Waste Connections by 7.4% in the second quarter. Addenda Capital Inc. now owns 211,014 shares of the business services provider’s stock valued at $39,401,000 after purchasing an additional 14,573 shares in the last quarter. OAKMONT Corp purchased a new position in Waste Connections during the 2nd quarter worth $11,510,000. Signaturefd LLC raised its position in Waste Connections by 9.3% during the 2nd quarter. Signaturefd LLC now owns 2,888 shares of the business services provider’s stock worth $539,000 after buying an additional 245 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Waste Connections during the 2nd quarter worth $365,000. Finally, Beaumont Financial Advisors LLC increased its holdings in shares of Waste Connections by 4.0% in the 2nd quarter. Beaumont Financial Advisors LLC now owns 29,474 shares of the business services provider’s stock valued at $5,503,000 after purchasing an additional 1,135 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Performance

WCN stock opened at $173.50 on Wednesday. The company has a market capitalization of $44.52 billion, a P/E ratio of 69.96, a PEG ratio of 3.15 and a beta of 0.62. The company has a 50-day simple moving average of $180.56 and a 200 day simple moving average of $187.09. Waste Connections, Inc. has a fifty-two week low of $169.36 and a fifty-two week high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Oppenheimer increased their price target on shares of Waste Connections from $216.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Stifel Nicolaus began coverage on shares of Waste Connections in a research report on Tuesday, September 30th. They issued a “buy” rating and a $221.00 target price on the stock. Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Raymond James Financial set a $213.00 price objective on shares of Waste Connections and gave the company a “strong-buy” rating in a research note on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a research note on Saturday, September 27th. Five research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Waste Connections currently has an average rating of “Buy” and a consensus price target of $212.60.

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.