Morey & Quinn Wealth Partners LLC Sells 157 Shares of Waste Connections, Inc. $WCN

Morey & Quinn Wealth Partners LLC cut its stake in Waste Connections, Inc. (NYSE:WCN) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,418 shares of the business services provider’s stock after selling 157 shares during the quarter. Waste Connections comprises about 1.0% of Morey & Quinn Wealth Partners LLC’s portfolio, making the stock its 23rd biggest position. Morey & Quinn Wealth Partners LLC’s holdings in Waste Connections were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ramirez Asset Management Inc. increased its holdings in shares of 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 period. Larson Financial Group LLC increased its holdings in shares of Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 179 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Waste Connections by 232.3% in the 1st quarter. Valley National Advisers Inc. now owns 216 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 151 shares during the period. Louisbourg Investments Inc. increased its holdings in shares of Waste Connections by 128.6% in the 1st quarter. Louisbourg Investments Inc. now owns 240 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 135 shares during the period. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Waste Connections by 29.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 283 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 64 shares during the period. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.1%

Shares of WCN opened at $173.67 on Thursday. Waste Connections, Inc. has a 52 week low of $169.36 and a 52 week high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $44.56 billion, a price-to-earnings ratio of 70.03, a PEG ratio of 3.14 and a beta of 0.62. The stock’s 50-day moving average price is $180.25 and its 200-day moving average price is $187.00.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Waste Connections had a return on equity of 15.72% and a net margin of 6.97%.The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

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

Wall Street Analyst Weigh In

WCN has been the topic of several research analyst reports. Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 24th. Citigroup dropped their target price on Waste Connections from $204.00 to $199.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. Oppenheimer dropped their target price on Waste Connections from $210.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James Financial set a $213.00 target price on Waste Connections and gave the stock a “strong-buy” rating in a research note on Monday. Finally, Stifel Nicolaus initiated coverage on Waste Connections in a research note on Tuesday, September 30th. They set a “buy” rating and a $221.00 target price on the stock. Five research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $211.73.

About Waste Connections

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.