Cidel Asset Management Inc. Increases Holdings in Waste Connections, Inc. $WCN

Cidel Asset Management Inc. grew its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,991 shares of the business services provider’s stock after buying an additional 4,340 shares during the period. Waste Connections accounts for about 1.5% of Cidel Asset Management Inc.’s holdings, making the stock its 22nd largest holding. Cidel Asset Management Inc. owned about 0.05% of Waste Connections worth $25,539,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WCN. Nuveen LLC purchased a new stake in Waste Connections during the 1st quarter worth about $623,155,000. Vanguard Group Inc. lifted its holdings in Waste Connections by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,247,244 shares of the business services provider’s stock worth $5,901,049,000 after buying an additional 954,242 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Waste Connections by 195.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,153,530 shares of the business services provider’s stock worth $224,961,000 after buying an additional 762,468 shares during the last quarter. Montrusco Bolton Investments Inc. increased its position in shares of Waste Connections by 46.6% during the second quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock worth $419,451,000 after purchasing an additional 732,718 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Waste Connections by 45.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,621,661 shares of the business services provider’s stock worth $316,532,000 after purchasing an additional 502,986 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank set a $208.00 price target on Waste Connections in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Waste Connections from $221.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Oppenheimer reduced their price objective on Waste Connections from $210.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Finally, Atb Cap Markets upgraded Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $210.38.

Waste Connections Trading Up 1.1%

NYSE:WCN opened at $172.68 on Friday. The business’s 50-day moving average is $178.03 and its two-hundred day moving average is $185.87. 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 firm has a market capitalization of $44.31 billion, a PE ratio of 69.63, a price-to-earnings-growth ratio of 3.15 and a beta of 0.62. Waste Connections, Inc. has a 12 month low of $169.36 and a 12 month high of $201.66.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the company earned $1.24 earnings per share. Waste Connections’s quarterly revenue was up 7.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Research analysts predict that Waste Connections, Inc. will post 5.28 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

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