Waste Connections, Inc. (NYSE:WCN) Receives Consensus Rating of “Buy” from Brokerages

Waste Connections, Inc. (NYSE:WCNGet Rating) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $151.63.

Several research analysts have commented on WCN shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Waste Connections from $145.00 to $154.00 in a report on Tuesday, August 9th. BMO Capital Markets lifted their price objective on shares of Waste Connections from $143.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Royal Bank of Canada lifted their price objective on shares of Waste Connections from $150.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, November 4th. Atb Cap Markets raised shares of Waste Connections from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price objective on shares of Waste Connections in a report on Tuesday, October 25th.

Insider Activity

In other news, VP Patrick James Shea sold 7,000 shares of Waste Connections stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the sale, the vice president now owns 12,813 shares of the company’s stock, valued at approximately $1,861,216.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Eric Hansen sold 4,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $136.93, for a total transaction of $547,720.00. Following the sale, the senior vice president now owns 6,460 shares of the company’s stock, valued at $884,567.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Patrick James Shea sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the sale, the vice president now directly owns 12,813 shares in the company, valued at approximately $1,861,216.38. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Waste Connections by 34.3% during the first quarter. Comerica Bank now owns 14,060 shares of the business services provider’s stock valued at $1,968,000 after purchasing an additional 3,588 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Waste Connections by 6.1% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,107 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 121 shares during the last quarter. Atria Investments LLC raised its holdings in shares of Waste Connections by 24.0% during the first quarter. Atria Investments LLC now owns 15,156 shares of the business services provider’s stock valued at $2,117,000 after purchasing an additional 2,937 shares during the last quarter. Metis Global Partners LLC purchased a new position in shares of Waste Connections during the first quarter valued at approximately $275,000. Finally, BW Gestao de Investimentos Ltda. raised its holdings in shares of Waste Connections by 29.5% during the first quarter. BW Gestao de Investimentos Ltda. now owns 82,123 shares of the business services provider’s stock valued at $11,473,000 after purchasing an additional 18,700 shares during the last quarter. Institutional investors own 79.33% of the company’s stock.

Waste Connections Trading Up 0.3 %

NYSE:WCN opened at $140.62 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $36.17 billion, a price-to-earnings ratio of 45.07, a price-to-earnings-growth ratio of 2.91 and a beta of 0.64. Waste Connections has a 52 week low of $113.50 and a 52 week high of $148.20. The firm has a 50-day moving average price of $136.30 and a two-hundred day moving average price of $132.22.

Waste Connections (NYSE:WCNGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. Waste Connections had a net margin of 11.59% and a return on equity of 14.10%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. On average, equities analysts expect that Waste Connections will post 3.81 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, December 1st. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.255 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.73%. Waste Connections’s payout ratio is presently 32.69%.

About Waste Connections

(Get Rating)

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.

See Also

Analyst Recommendations for Waste Connections (NYSE:WCN)

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