Vestmark Advisory Solutions Inc. Has $447,000 Stock Position in Waste Connections, Inc. (NYSE:WCN)

Posted by Defense World Staff on Aug 18th, 2023

Vestmark Advisory Solutions Inc. raised its position in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 36.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,215 shares of the business services provider’s stock after purchasing an additional 858 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Waste Connections were worth $447,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC boosted its holdings in Waste Connections by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 9,034,829 shares of the business services provider’s stock worth $1,197,657,000 after purchasing an additional 391,120 shares in the last quarter. Norges Bank acquired a new position in shares of Waste Connections during the 4th quarter valued at about $602,107,000. The Manufacturers Life Insurance Company raised its stake in shares of Waste Connections by 2.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,484,074 shares of the business services provider’s stock valued at $461,768,000 after acquiring an additional 67,947 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Waste Connections by 38.7% in the 1st quarter. Mackenzie Financial Corp now owns 3,076,012 shares of the business services provider’s stock worth $428,075,000 after purchasing an additional 857,968 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Waste Connections by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,726,999 shares of the business services provider’s stock worth $361,493,000 after purchasing an additional 183,938 shares during the period. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Trading Down 1.2 %

Shares of Waste Connections stock opened at $137.36 on Friday. The stock has a market capitalization of $35.39 billion, a P/E ratio of 42.26, a price-to-earnings-growth ratio of 3.01 and a beta of 0.67. Waste Connections, Inc. has a 12-month low of $124.23 and a 12-month high of $148.20. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.90. The company has a 50-day simple moving average of $139.97 and a 200 day simple moving average of $138.20.

Waste Connections (NYSE:WCN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.01 billion. Waste Connections had a net margin of 10.93% and a return on equity of 14.01%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. Research analysts expect that Waste Connections, Inc. will post 4.19 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, August 15th. Waste Connections’s dividend payout ratio is currently 31.38%.

Wall Street Analyst Weigh In

WCN has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Waste Connections from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Raymond James dropped their price target on Waste Connections from $165.00 to $163.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 4th. Citigroup increased their price objective on Waste Connections from $155.00 to $156.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Morgan Stanley boosted their target price on shares of Waste Connections from $164.00 to $171.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Royal Bank of Canada increased their target price on shares of Waste Connections from $153.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.08.

View Our Latest Stock Analysis on WCN

Waste Connections 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.