Waste Connections Inc (NYSE:WCN) Director Michael W. Harlan sold 11,500 shares of Waste Connections stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $72.03, for a total value of $828,345.00. Following the completion of the transaction, the director now directly owns 42,685 shares in the company, valued at approximately $3,074,600.55. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Waste Connections Inc (WCN) traded down $0.15 during midday trading on Wednesday, hitting $73.40. The company had a trading volume of 719,477 shares, compared to its average volume of 910,828. The company has a market cap of $19,453.25, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19. Waste Connections Inc has a 1-year low of $56.81 and a 1-year high of $74.28. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.
Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Waste Connections had a return on equity of 9.63% and a net margin of 12.46%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. analysts predict that Waste Connections Inc will post 2.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. Waste Connections’s payout ratio is 25.65%.
Several hedge funds and other institutional investors have recently made changes to their positions in WCN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Waste Connections by 55.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 188,451 shares of the business services provider’s stock worth $13,184,000 after purchasing an additional 67,596 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Waste Connections by 1,350.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 417,171 shares of the business services provider’s stock worth $29,186,000 after purchasing an additional 388,417 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in Waste Connections by 2.7% in the 4th quarter. Thrivent Financial For Lutherans now owns 648,441 shares of the business services provider’s stock worth $46,001,000 after purchasing an additional 17,126 shares during the last quarter. Crestline Management LP lifted its holdings in Waste Connections by 3.2% in the 3rd quarter. Crestline Management LP now owns 80,000 shares of the business services provider’s stock worth $5,597,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Guardian Capital LP lifted its holdings in Waste Connections by 0.5% in the 3rd quarter. Guardian Capital LP now owns 1,988,153 shares of the business services provider’s stock worth $138,671,000 after purchasing an additional 10,077 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. BMO Capital Markets assumed coverage on Waste Connections in a research note on Monday, December 11th. They set an “outperform” rating and a $79.00 target price on the stock. Bank of America assumed coverage on Waste Connections in a research note on Thursday, December 28th. They set a “buy” rating and a $80.00 target price on the stock. Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research note on Monday, February 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price on shares of Waste Connections in a research note on Thursday, January 4th. Finally, Credit Suisse Group set a $80.00 target price on Waste Connections and gave the company a “buy” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $78.22.
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Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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