Key Points
- James Little, a Waste Connections VP, sold 2,605 shares on April 27 at an average price of $163.98 for proceeds of $427,167.90, leaving him with 34,395 shares (a 7.04% reduction) according to an SEC filing.
- Waste Connections reported $1.23 EPS for the quarter (beating the $1.19 consensus) but missed revenue expectations with $2.33 billion versus $2.50 billion expected; the company also declared a $0.35 quarterly dividend (ex-dividend May 6, payable May 21) for a 0.9% yield.
- The stock carries a market capitalization of $41.76 billion and a P/E of 39.91, and analysts have a consensus Buy rating with an average price target of $203.35.
Waste Connections, Inc. (NYSE:WCN - Get Free Report) VP James Little sold 2,605 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the sale, the vice president directly owned 34,395 shares of the company's stock, valued at $5,640,092.10. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Waste Connections Trading Up 0.1%
NYSE WCN opened at $163.63 on Thursday. The business has a 50 day simple moving average of $164.24 and a 200 day simple moving average of $168.61. Waste Connections, Inc. has a one year low of $154.90 and a one year high of $199.00. The stock has a market capitalization of $41.76 billion, a P/E ratio of 39.91, a P/E/G ratio of 2.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69.
Waste Connections (NYSE:WCN - Get Free Report) last released its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. Research analysts expect that Waste Connections, Inc. will post 5.49 earnings per share for the current year.
Waste Connections Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections's dividend payout ratio is presently 34.15%.
Analyst Ratings Changes
WCN has been the topic of several recent research reports. TD Cowen cut their price target on Waste Connections from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Morgan Stanley set a $205.00 price target on Waste Connections and gave the stock an "overweight" rating in a report on Friday, February 13th. Stifel Nicolaus set a $213.00 price target on Waste Connections and gave the stock a "buy" rating in a report on Friday, February 13th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $205.00 price target (up from $200.00) on shares of Waste Connections in a report on Monday, January 5th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $203.35.
Get Our Latest Analysis on WCN
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of WCN. Integrated Wealth Concepts LLC bought a new position in shares of Waste Connections in the first quarter valued at approximately $577,000. Invesco Ltd. lifted its holdings in shares of Waste Connections by 12.8% in the second quarter. Invesco Ltd. now owns 219,290 shares of the business services provider's stock valued at $40,946,000 after purchasing an additional 24,948 shares in the last quarter. First Trust Advisors LP lifted its holdings in Waste Connections by 2.9% during the second quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider's stock worth $4,572,000 after acquiring an additional 688 shares during the period. Jump Financial LLC bought a new stake in Waste Connections during the second quarter worth $2,714,000. Finally, State Street Corp lifted its holdings in Waste Connections by 1.0% during the second quarter. State Street Corp now owns 1,808,631 shares of the business services provider's stock worth $337,708,000 after acquiring an additional 17,197 shares during the period. Institutional investors own 86.09% of the company's stock.
Waste Connections Company Profile
(
Get Free Report)
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.
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