Waste Connections (NYSE:WCN) Stock Gets Price Target Reduction from Morgan Stanley

Waste Connections (NYSE:WCN) had its price target decreased by Morgan Stanley from $205.00 to $195.00 in a research report report published on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on WCN. Barclays increased their target price on Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Canadian Imperial Bank of Commerce set a $184.00 price target on shares of Waste Connections and gave the company an “outperformer” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. TD Cowen restated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Finally, Wolfe Research began coverage on shares of Waste Connections in a report on Tuesday, September 15th. They set an “outperform” rating and a $204.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.61.

Waste Connections Stock Up 5.6%

WCN stock opened at $165.62 on Tuesday. The stock’s 50 day simple moving average is $160.81 and its 200 day simple moving average is $161.29. Waste Connections has a fifty-two week low of $146.89 and a fifty-two week high of $179.74. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $41.57 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 2.75 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that Waste Connections will post 5.65 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid 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 yield of 0.8%. Waste Connections’s payout ratio is 33.73%.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Cloninger sold 2,811 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the sale, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Philip Rivard sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the sale, the senior vice president directly owned 734 shares of the company’s stock, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Several institutional investors have recently bought and sold shares of the stock. Triasima Portfolio Management inc. bought a new stake in shares of Waste Connections in the 3rd quarter worth $1,305,000. Formuepleje A S raised its holdings in shares of Waste Connections by 12.3% in the third quarter. Formuepleje A S now owns 37,662 shares of the business services provider’s stock valued at $5,797,000 after purchasing an additional 4,118 shares during the last quarter. Curated Wealth Partners LLC bought a new position in shares of Waste Connections during the third quarter valued at about $466,000. Sax Wealth Advisors LLC bought a new position in shares of Waste Connections during the third quarter valued at about $350,000. Finally, Perpetual Ltd lifted its position in shares of Waste Connections by 1.5% during the third quarter. Perpetual Ltd now owns 97,655 shares of the business services provider’s stock valued at $15,032,000 after purchasing an additional 1,466 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections News Roundup

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Bernstein initiated or reiterated a Buy rating on Waste Connections, providing a positive analyst endorsement. Waste Connections Receives a Buy from Bernstein
• Positive Sentiment: Zacks identified WCN as a top-ranked momentum stock, suggesting favorable recent price and trading trends that could attract growth and momentum investors. Waste Connections Is a Top-Ranked Momentum Stock
• Positive Sentiment: Waste Connections was featured among dividend stocks viewed as capable of continuing to grow while passing higher costs on to customers, reinforcing the appeal of its defensive, recurring-revenue business model. Dividend Stocks That Could Keep Growing
• Neutral Sentiment: Morgan Stanley lowered its price target to $195, but the revised target remains above the current trading level. The change signals more cautious valuation expectations rather than an outright bearish view. Morgan Stanley Cuts Waste Connections Stock Target
• Negative Sentiment: Citigroup reduced its price target from $182 to $175 and assigned a Neutral rating, limiting the perceived near-term upside and adding pressure to the valuation narrative. Citigroup Lowers Waste Connections Price Target
• Negative Sentiment: Recent previews indicate that WCN may not have the combination of factors typically associated with an earnings beat, creating a risk ahead of next week’s results. Waste Connections Earnings Preview

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal, recycling and resource recovery services. The company serves residential, commercial, industrial and construction customers through local operations and provides services under municipal and other contracted arrangements.

Its business includes curbside and commercial waste collection, transfer stations, solid waste landfills, recycling facilities and organics processing. Waste Connections also provides environmental services for energy-producing customers, including the management and disposal of non-hazardous oilfield waste, and operates resource recovery and renewable energy projects in connection with certain waste facilities.

Founded in 1997, Waste Connections serves communities across the United States and Canada.