Key Points
- Waste Connections SVP Robert Michael Cloninger sold 2,811 shares at an average price of $171.02, totaling approximately $480,737. After the transaction, he retained 11,666 shares.
- The company reported quarterly EPS of $1.50, beating estimates by $0.15, while revenue rose 6.4% year over year to $2.56 billion. Shares opened at $166.59, down 3.6%.
- Waste Connections declared a quarterly dividend of $0.35, equivalent to $1.40 annually and a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $202.42.
Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Robert Michael Cloninger sold 2,811 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was 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 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 filing with the Securities & Exchange Commission, which is accessible through this link.
Waste Connections Stock Down 3.6%
WCN stock opened at $166.59 on Friday. The business's 50-day moving average price is $162.34 and its 200-day moving average price is $163.22. The stock has a market cap of $42.04 billion, a P/E ratio of 40.14, a PEG ratio of 2.97 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $191.00.
Waste Connections (NYSE:WCN - Get Free Report) last released its 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 net margin of 10.86% and a return on equity of 17.31%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the firm posted $1.29 EPS. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Waste Connections, Inc. will post 5.63 EPS for the current year.
Waste Connections Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections's dividend payout ratio is 33.73%.
Analyst Ratings Changes
A number of research analysts recently weighed in on WCN shares. Weiss Ratings cut shares of Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. BMO Capital Markets reissued an "outperform" rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $199.00 price target on shares of Waste Connections in a report on Friday, July 24th. Barclays boosted their price objective on Waste Connections from $180.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Citigroup upped their price objective on Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.42.
Check Out Our Latest Stock Analysis on WCN
Hedge Funds Weigh In On Waste Connections
A number of hedge funds and other institutional investors have recently modified their holdings of WCN. City Holding Co. purchased a new position in Waste Connections during the fourth quarter valued at $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Waste Connections in the 3rd quarter worth $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after purchasing an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC boosted its holdings in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Waste Connections during the fourth quarter valued at about $36,000. 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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