Tuttle Capital Management LLC Acquires 468 Shares of Waste Connections, Inc. $WCN

Tuttle Capital Management LLC grew its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 14.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,606 shares of the business services provider’s stock after buying an additional 468 shares during the period. Waste Connections accounts for about 2.8% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Tuttle Capital Management LLC’s holdings in Waste Connections were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of WCN. Ramirez Asset Management Inc. increased its holdings in Waste Connections by 122.0% in the 1st quarter. Ramirez Asset Management Inc. now owns 182 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Waste Connections by 994.4% during the first quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 179 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of Waste Connections by 232.3% during the first quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 151 shares in the last quarter. Louisbourg Investments Inc. increased its holdings in shares of Waste Connections by 128.6% in the first quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in Waste Connections during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

WCN opened at $172.62 on Wednesday. The firm has a market capitalization of $44.29 billion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 3.13 and a beta of 0.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50-day moving average is $179.04 and its two-hundred day moving average is $186.39. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Waste Connections had a net margin of 6.97% and a return on equity of 15.72%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. Waste Connections has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WCN shares. Citigroup decreased their price objective on Waste Connections from $204.00 to $199.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Barclays began coverage on shares of Waste Connections in a research note on Friday, September 19th. They set an “equal weight” rating and a $192.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of Waste Connections in a research note on Tuesday, September 30th. They issued a “buy” rating and a $221.00 price objective for the company. Raymond James Financial set a $213.00 target price on shares of Waste Connections and gave the company a “strong-buy” rating in a research report on Monday, October 6th. Finally, Scotiabank set a $208.00 price target on shares of Waste Connections in a report on Friday. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $211.73.

Waste Connections 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.