Waste Connections, Inc. $WCN Stake Boosted by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,991 shares of the business services provider’s stock after acquiring an additional 4,340 shares during the period. Waste Connections accounts for 1.5% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Cidel Asset Management Inc.’s holdings in Waste Connections were worth $25,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in Waste Connections by 19.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,069 shares of the business services provider’s stock worth $1,379,000 after acquiring an additional 1,137 shares during the last quarter. Praxis Investment Management Inc. increased its stake in Waste Connections by 91.6% in the first quarter. Praxis Investment Management Inc. now owns 4,350 shares of the business services provider’s stock valued at $849,000 after acquiring an additional 2,080 shares during the period. Cassia Capital Partners LLC increased its stake in Waste Connections by 6.3% in the first quarter. Cassia Capital Partners LLC now owns 5,655 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 335 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Waste Connections by 41.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider’s stock valued at $3,843,000 after acquiring an additional 5,733 shares during the period. Finally, Palumbo Wealth Management LLC increased its stake in Waste Connections by 22.1% in the first quarter. Palumbo Wealth Management LLC now owns 3,414 shares of the business services provider’s stock valued at $665,000 after acquiring an additional 619 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analysts Set New Price Targets

WCN has been the topic of a number of analyst reports. Oppenheimer lowered their target price on shares of Waste Connections from $210.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Scotiabank set a $208.00 target price on shares of Waste Connections in a research note on Friday, October 10th. Barclays started 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 objective on the stock. Citigroup decreased their price objective on shares of Waste Connections from $204.00 to $199.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 17th. Finally, National Bankshares decreased their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Buy” and an average price target of $210.38.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $172.68 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $44.31 billion, a price-to-earnings ratio of 69.63, a P/E/G ratio of 3.15 and a beta of 0.62. Waste Connections, Inc. has a 1-year low of $169.36 and a 1-year high of $201.66. The firm’s 50-day moving average price is $178.03 and its two-hundred day moving average price is $185.87.

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

Waste Connections Dividend Announcement

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

Waste Connections Company 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.