Waste Connections, Inc. (NYSE:WCN) Shares Purchased by Whittier Trust Co.

Posted by on Jul 9th, 2023

Whittier Trust Co. increased its stake in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 51.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,487 shares of the business services provider’s stock after purchasing an additional 504 shares during the quarter. Whittier Trust Co.’s holdings in Waste Connections were worth $207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WCN. HighTower Advisors LLC grew its stake in Waste Connections by 36.0% during the 1st quarter. HighTower Advisors LLC now owns 10,714 shares of the business services provider’s stock worth $1,501,000 after purchasing an additional 2,835 shares in the last quarter. Private Advisor Group LLC grew its stake in Waste Connections by 10.4% during the 1st quarter. Private Advisor Group LLC now owns 3,202 shares of the business services provider’s stock worth $448,000 after purchasing an additional 301 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Waste Connections by 39.5% during the 1st quarter. Vontobel Holding Ltd. now owns 11,747 shares of the business services provider’s stock worth $1,641,000 after purchasing an additional 3,328 shares in the last quarter. Blair William & Co. IL grew its stake in Waste Connections by 34.9% during the 1st quarter. Blair William & Co. IL now owns 40,524 shares of the business services provider’s stock worth $5,661,000 after purchasing an additional 10,473 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Waste Connections by 6.2% during the 1st quarter. Sei Investments Co. now owns 133,034 shares of the business services provider’s stock worth $18,661,000 after purchasing an additional 7,734 shares in the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Down 0.9 %

Shares of NYSE WCN opened at $138.80 on Friday. The stock has a market cap of $35.76 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 2.98 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 52-week low of $121.20 and a 52-week high of $148.20. The business has a 50-day moving average price of $139.00 and a 200 day moving average price of $136.25.

Waste Connections (NYSE:WCN – Free Report) last announced its earnings results on Wednesday, April 26th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Waste Connections had a return on equity of 14.22% and a net margin of 11.43%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were given a $0.255 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.73%. Waste Connections’s dividend payout ratio (DPR) is presently 30.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WCN shares. StockNews.com raised Waste Connections from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Raymond James lowered their price objective on Waste Connections from $165.00 to $161.00 in a research report on Monday, May 1st. TD Cowen assumed coverage on Waste Connections in a research report on Thursday, March 30th. They set an “outperform” rating and a $160.00 price objective for the company. Finally, Truist Financial assumed coverage on Waste Connections in a research report on Monday, April 17th. They set a “buy” rating and a $160.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Connections currently has a consensus rating of “Buy” and a consensus price target of $156.22.

Waste Connections Company Profile

(Free Report)

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.

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

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