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

Shares of Waste Connections, Inc. (NYSE:WCN) have been assigned a consensus rating of “Moderate Buy” from the twenty research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $200.8947.

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waste Connections in a report on Friday, August 7th. Barclays upped their price target on Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Citigroup boosted their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. cut their price objective on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th.

Waste Connections Price Performance

Shares of WCN opened at $164.13 on Friday. Waste Connections has a 12 month low of $146.89 and a 12 month high of $185.12. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a fifty day moving average price of $168.06 and a 200 day moving average price of $162.96. The company has a market cap of $41.29 billion, a P/E ratio of 39.55, a PEG ratio of 2.84 and a beta of 0.48.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. On average, research analysts forecast that Waste Connections will post 5.62 earnings per share for the current year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is currently 33.73%.

Insider Buying and Selling at Waste Connections

In related news, SVP Robert Michael Cloninger sold 2,811 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the sale, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Philip Rivard sold 2,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the transaction, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,311 shares of company stock worth $2,303,997 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waste Connections

A number of institutional investors have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the third quarter worth about $26,000. Transamerica Financial Advisors LLC grew its position in Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Group One Trading LLC bought a new stake in Waste Connections in the second quarter valued at $30,000. Whipplewood Advisors LLC raised its stake in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after acquiring an additional 175 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Waste Connections during the fourth quarter worth $36,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.