Insider Selling: Waste Connections (NYSE:WCN) COO Sells 1,500 Shares of Stock

Waste Connections, Inc. (NYSE:WCN) COO Jason Craft sold 1,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer directly owned 32,861 shares of the company’s stock, valued at approximately $5,145,703.99. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Waste Connections Stock Performance

Shares of WCN traded up $3.92 during midday trading on Tuesday, hitting $157.63. 1,526,850 shares of the stock traded hands, compared to its average volume of 1,657,904. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $192.72. The firm has a market capitalization of $39.99 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The business’s 50 day moving average price is $157.98 and its two-hundred day moving average price is $165.58.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts predict that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections’s payout ratio is 34.15%.

Institutional Investors Weigh In On Waste Connections

Institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Waste Connections during the third quarter valued at about $1,911,000. Cidel Asset Management Inc. lifted its stake in Waste Connections by 19.5% during the third quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock valued at $28,780,000 after buying an additional 26,684 shares in the last quarter. Trium Capital LLP purchased a new stake in Waste Connections during the fourth quarter valued at about $1,995,000. Procyon Advisors LLC purchased a new stake in Waste Connections during the fourth quarter valued at about $1,908,000. Finally, Gradient Investments LLC lifted its stake in Waste Connections by 18.5% during the fourth quarter. Gradient Investments LLC now owns 145,595 shares of the business services provider’s stock valued at $25,532,000 after buying an additional 22,722 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WCN shares. The Goldman Sachs Group reissued a “buy” rating and set a $211.00 price target on shares of Waste Connections in a report on Thursday, April 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. TD Cowen reduced their price objective on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 13th. Wolfe Research began coverage on shares of Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective for the company. Finally, Stifel Nicolaus set a $213.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and an average price target of $202.84.

About Waste Connections

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.