Key Points
- Waste Connections VP Patrick James Shea sold 7,500 shares on June 5 at an average price of $156.26, totaling about $1.17 million. After the sale, he still held 19,737 shares, reducing his stake by 27.54%.
- The stock rose 2.6% and recently traded around $157.63, near its 50-day average of $158.01 but below its 200-day average of $165.46. The company has a market cap of about $40 billion.
- Waste Connections reported better-than-expected quarterly earnings of $1.23 per share versus $1.19 expected, though revenue of $2.33 billion came in below estimates. Analysts remain broadly positive, with an average rating of Moderate Buy and a target price of $202.84.
Waste Connections, Inc. (NYSE:WCN - Get Free Report) COO Jason Craft sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer owned 32,861 shares in the company, valued at approximately $5,145,703.99. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Waste Connections Trading Up 2.6%
Waste Connections stock opened at $157.63 on Wednesday. The company's fifty day simple moving average is $158.01 and its 200-day simple moving average is $165.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $192.72. The stock has a market cap of $39.99 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.73 and a beta of 0.51.
Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 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 business had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the company posted $1.13 EPS. Waste Connections's revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.
Waste Connections Dividend Announcement
The business 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. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 6th. Waste Connections's payout ratio is currently 34.15%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its holdings in Waste Connections by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider's stock worth $533,000 after purchasing an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider's stock worth $449,000 after purchasing an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Waste Connections by 1.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider's stock worth $701,000 after purchasing an additional 65 shares during the last quarter. WPG Advisers LLC lifted its holdings in Waste Connections by 7.7% in the 4th quarter. WPG Advisers LLC now owns 919 shares of the business services provider's stock worth $161,000 after purchasing an additional 66 shares during the last quarter. Finally, RDA Financial Network lifted its holdings in Waste Connections by 2.8% in the 4th quarter. RDA Financial Network now owns 2,459 shares of the business services provider's stock worth $431,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on WCN shares. JPMorgan Chase & Co. boosted their price target on shares of Waste Connections from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Wolfe Research started coverage on shares of Waste Connections in a report on Friday, March 13th. They set an "outperform" rating and a $199.00 price target on the stock. Scotiabank set a $197.00 price target on shares of Waste Connections and gave the company a "sector outperform" rating in a report on Friday, February 13th. TD Cowen lowered their price target on shares of Waste Connections from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Finally, Morgan Stanley set a $205.00 price target on shares of Waste Connections and gave the company an "overweight" rating in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.84.
Read Our Latest Analysis on WCN
About Waste Connections
(
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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