Caitong International Asset Management Co. Ltd Increases Holdings in Waste Connections, Inc. $WCN

Caitong International Asset Management Co. Ltd increased its holdings in shares of Waste Connections, Inc. (NYSE:WCN) by 1,515.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 517 shares of the business services provider’s stock after purchasing an additional 485 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Waste Connections were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WCN. Wealth Enhancement Advisory Services LLC boosted 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 purchasing an additional 1,137 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Waste Connections by 41.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,710 shares of the business services provider’s stock worth $3,843,000 after purchasing an additional 5,733 shares during the period. Bessemer Group Inc. boosted its position in Waste Connections by 8.9% during the 1st quarter. Bessemer Group Inc. now owns 14,899 shares of the business services provider’s stock worth $2,907,000 after purchasing an additional 1,221 shares during the period. Perpetual Ltd boosted its position in Waste Connections by 12.3% during the 1st quarter. Perpetual Ltd now owns 78,499 shares of the business services provider’s stock worth $15,322,000 after purchasing an additional 8,611 shares during the period. Finally, Tranquility Partners LLC boosted its position in Waste Connections by 1.4% during the 1st quarter. Tranquility Partners LLC now owns 4,354 shares of the business services provider’s stock worth $850,000 after purchasing an additional 58 shares during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Atb Cap Markets raised shares of Waste Connections from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 24th. Stifel Nicolaus cut their price objective on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James Financial set a $213.00 price objective on shares of Waste Connections and gave the stock a “strong-buy” rating in a report on Monday, October 6th. Scotiabank reiterated an “outperform” rating and issued a $210.00 price objective on shares of Waste Connections in a report on Thursday. Finally, Barclays reiterated a “negative” rating on shares of Waste Connections in a report on Thursday. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Waste Connections currently has a consensus rating of “Buy” and a consensus target price of $210.63.

Waste Connections Stock Performance

Shares of Waste Connections stock opened at $176.76 on Friday. The firm has a market cap of $45.36 billion, a PE ratio of 73.65, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62. The firm’s 50-day simple moving average is $176.95 and its 200-day simple moving average is $185.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections, Inc. has a 1 year low of $169.36 and a 1 year high of $201.66.

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

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Wednesday, November 5th will be paid a $0.35 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is currently 50.81%.

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.