Waste Connections (NYSE:WCN) VP Sells 2,000 Shares of Company Stock

Waste Connections, Inc. (NYSE:WCN – Get Free Report) VP James Little sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $185.22, for a total value of $370,440.00. Following the transaction, the vice president owned 32,395 shares in the company, valued at $6,000,201.90. This represents a 5.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Waste Connections Stock Performance

WCN stock traded up $1.92 on Thursday, hitting $181.68. The company’s stock had a trading volume of 1,622,708 shares, compared to its average volume of 1,595,255. The stock has a market cap of $45.52 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 3.35 and a beta of 0.49. The firm has a 50 day moving average of $162.80 and a two-hundred day moving average of $163.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $187.35.

Waste Connections (NYSE:WCN – Get Free Report) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.60 billion. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities analysts predict that Waste Connections, Inc. will post 5.70 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a $0.3850 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. Waste Connections’s payout ratio is presently 31.32%.

Institutional Investors Weigh In On Waste Connections

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Waste Connections by 0.9% in the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock valued at $1,983,500,000 after purchasing an additional 106,763 shares in the last quarter. BlackRock Inc. bought a new position in Waste Connections during the second quarter worth about $1,061,947,000. The Manufacturers Life Insurance Company raised its position in shares of Waste Connections by 48.7% during the first quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider’s stock worth $604,573,000 after purchasing an additional 1,219,056 shares during the period. Bank of America Corp DE bought a new position in shares of Waste Connections during the 2nd quarter valued at about $510,526,000. Finally, Wellington Management Group LLP acquired a new position in shares of Waste Connections in the 2nd quarter valued at approximately $477,944,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Waste Connections from $187.00 to $211.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Weiss Ratings upgraded shares of Waste Connections from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 15th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective (up from $193.00) on shares of Waste Connections in a report on Friday, October 23rd. Finally, Citigroup reiterated a “neutral” rating and set a $192.00 price target (up from $175.00) on shares of Waste Connections in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and an average price target of $203.22.

Check Out Our Latest Research Report on WCN

About Waste Connections

(Get Free Report)

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.

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