56,227 Shares in Waste Connections, Inc. $WCN Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in Waste Connections, Inc. (NYSE:WCN) in the second quarter, Holdings Channel reports. The fund acquired 56,227 shares of the business services provider’s stock, valued at approximately $10,499,000.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Waste Connections by 1.6% in the 2nd quarter. Bessemer Group Inc. now owns 15,138 shares of the business services provider’s stock worth $2,827,000 after acquiring an additional 239 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Waste Connections by 2.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 467,549 shares of the business services provider’s stock worth $87,274,000 after acquiring an additional 11,558 shares in the last quarter. MQS Management LLC bought a new position in Waste Connections in the second quarter worth about $625,000. Linden Thomas Advisory Services LLC raised its holdings in Waste Connections by 5.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 2,988 shares of the business services provider’s stock worth $558,000 after purchasing an additional 143 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Waste Connections by 1,515.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 517 shares of the business services provider’s stock worth $97,000 after purchasing an additional 485 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Down 0.0%

Shares of Waste Connections stock opened at $176.76 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. The firm’s 50 day simple moving average is $176.95 and its two-hundred day simple moving average is $185.40. Waste Connections, Inc. has a 12-month low of $169.36 and a 12-month high of $201.66. The firm has a market capitalization of $45.36 billion, a price-to-earnings ratio of 73.65, a PEG ratio of 3.25 and a beta of 0.62.

Waste Connections (NYSE:WCN) last released its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.06. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm earned $1.35 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. Waste Connections has set its FY 2025 guidance at EPS. Analysts predict that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be issued a $0.35 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 5th. Waste Connections’s dividend payout ratio is currently 52.50%.

Analyst Ratings Changes

Several research firms recently commented on WCN. Raymond James Financial set a $213.00 price objective on shares of Waste Connections and gave the stock a “strong-buy” rating in a research note on Monday, October 6th. CIBC reaffirmed an “outperform” rating on shares of Waste Connections in a research report on Friday, July 25th. UBS Group set a $195.00 price target on Waste Connections and gave the stock a “neutral” rating in a research report on Thursday. Citigroup reduced their price target on Waste Connections from $199.00 to $196.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada reduced their target price on Waste Connections from $221.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Waste Connections currently has an average rating of “Buy” and an average price target of $210.63.

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.