Putnam Investments LLC Has $109.92 Million Stock Position in Waste Connections, Inc. (NYSE:WCN)

Posted by on Jun 13th, 2023

Putnam Investments LLC reduced its position in shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 829,178 shares of the business services provider’s stock after selling 82,955 shares during the period. Putnam Investments LLC owned about 0.32% of Waste Connections worth $109,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WCN. Baldwin Brothers LLC MA lifted its holdings in Waste Connections by 277.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 272 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in Waste Connections by 172.2% during the 4th quarter. Zions Bancorporation N.A. now owns 294 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 186 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in Waste Connections during the 4th quarter valued at about $50,000. First Horizon Advisors Inc. lifted its holdings in Waste Connections by 53.0% during the 4th quarter. First Horizon Advisors Inc. now owns 433 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 150 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Waste Connections by 65.3% in the 3rd quarter. IFP Advisors Inc now owns 496 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 196 shares in the last quarter. 85.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Waste Connections from $158.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, February 17th. Atb Cap Markets upgraded shares of Waste Connections from a “sector perform” rating to an “outperform” rating in a research report on Thursday, February 16th. StockNews.com assumed coverage on shares of Waste Connections in a research report on Thursday, May 18th. They issued a “buy” rating for the company. BMO Capital Markets lowered their price objective on shares of Waste Connections from $158.00 to $153.00 and set an “outperform” rating for the company in a research report on Friday, February 17th. Finally, Raymond James lowered their price objective on shares of Waste Connections from $165.00 to $161.00 in a research report on Monday, May 1st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $156.22.

Waste Connections Stock Down 0.1 %

Shares of NYSE:WCN opened at $135.72 on Tuesday. Waste Connections, Inc. has a one year low of $113.50 and a one year high of $148.20. The company has a 50 day moving average of $139.89 and a 200-day moving average of $136.44. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $34.96 billion, a price-to-earnings ratio of 41.00, a P/E/G ratio of 2.89 and a beta of 0.67.

Waste Connections (NYSE:WCN – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Waste Connections had a net margin of 11.43% and a return on equity of 14.22%. Waste Connections’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. On average, sell-side analysts forecast that Waste Connections, Inc. will post 4.2 earnings per share for the current year.

Waste Connections Dividend Announcement

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

About Waste Connections

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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.

See Also

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

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