ExodusPoint Capital Management LP Has $1.86 Million Position in Waste Connections, Inc. (NYSE:WCN)

Posted by Defense World Staff on Jun 10th, 2023

ExodusPoint Capital Management LP increased its stake in shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) by 150.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,059 shares of the business services provider’s stock after buying an additional 8,440 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Waste Connections were worth $1,864,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WCN. HighTower Advisors LLC boosted its holdings in shares of Waste Connections by 36.0% in the 1st quarter. HighTower Advisors LLC now owns 10,714 shares of the business services provider’s stock valued at $1,501,000 after purchasing an additional 2,835 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Waste Connections by 10.4% in the 1st quarter. Private Advisor Group LLC now owns 3,202 shares of the business services provider’s stock valued at $448,000 after purchasing an additional 301 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Waste Connections by 39.5% in the 1st quarter. Vontobel Holding Ltd. now owns 11,747 shares of the business services provider’s stock valued at $1,641,000 after purchasing an additional 3,328 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Waste Connections by 34.9% in the 1st quarter. Blair William & Co. IL now owns 40,524 shares of the business services provider’s stock valued at $5,661,000 after purchasing an additional 10,473 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Waste Connections by 6.2% in the 1st quarter. Sei Investments Co. now owns 133,034 shares of the business services provider’s stock valued at $18,661,000 after purchasing an additional 7,734 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WCN. Atb Cap Markets raised Waste Connections from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 16th. Raymond James cut their price objective on Waste Connections from $165.00 to $161.00 in a report on Monday, May 1st. StockNews.com started coverage on Waste Connections in a report on Thursday, May 18th. They set a “buy” rating on the stock. BMO Capital Markets cut their price objective on Waste Connections from $158.00 to $153.00 and set an “outperform” rating on the stock in a report on Friday, February 17th. Finally, TD Cowen started coverage on Waste Connections in a report on Thursday, March 30th. They set an “outperform” rating and a $160.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $156.22.

Waste Connections Stock Down 0.1 %

Shares of NYSE:WCN opened at $135.85 on Friday. The firm has a market cap of $34.99 billion, a P/E ratio of 41.04, a P/E/G ratio of 2.88 and a beta of 0.67. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.96. Waste Connections, Inc. has a 12-month low of $113.50 and a 12-month high of $148.20. The business has a fifty day simple moving average of $139.97 and a 200 day simple moving average of $136.56.

Waste Connections (NYSE:WCN – Get Rating) last announced its earnings results on Wednesday, April 26th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. Waste Connections had a return on equity of 14.22% and a net margin of 11.43%. Waste Connections’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. Analysts predict that Waste Connections, Inc. will post 4.2 earnings per share for the current year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, May 9th. Waste Connections’s dividend payout ratio is currently 30.82%.

Waste Connections Profile

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Waste Connections, Inc engages in the provision of non-hazardous waste collection, transfer, and disposal services. The firm offers its services to residential, commercial, landfill and transfer stations, and industries such as office, apartments multi-family, construction and demolition, property management, retail, restaurant, and manufacturing.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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