Key Points
- Insider sale: Waste Connections SVP Philip Rivard sold 2,500 shares at an average price of $166.57, totaling $416,425. After the transaction, he retained 734 shares, a 77.3% reduction in his position.
- Strong quarterly results: The company reported quarterly EPS of $1.50, beating consensus by $0.15, while revenue reached $2.56 billion, up 6.4% year over year and above analyst expectations.
- Analyst sentiment remains positive: Waste Connections has a “Moderate Buy” consensus rating and an average price target of $200.89, compared with shares opening at $168.51. The company also pays a $0.35 quarterly dividend, yielding approximately 0.8%.
Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Philip Rivard sold 2,500 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president owned 734 shares of the company's stock, valued at approximately $122,262.38. The trade was a 77.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Waste Connections Stock Performance
Shares of WCN stock opened at $168.51 on Friday. The company has a market cap of $42.39 billion, a P/E ratio of 40.60, a PEG ratio of 2.90 and a beta of 0.48. The business has a 50 day moving average of $166.25 and a two-hundred day moving average of $163.12. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $188.09. 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 (NYSE:WCN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 EPS. As a group, analysts anticipate that Waste Connections, Inc. will post 5.62 EPS for the current year.
Waste Connections Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio (DPR) is currently 33.73%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on WCN. Citigroup lifted their price target on shares of Waste Connections from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Barclays increased 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, July 28th. JPMorgan Chase & Co. decreased their target price on Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, TD Cowen reiterated a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.89.
View Our Latest Analysis on WCN
Hedge Funds Weigh In On Waste Connections
Hedge funds have recently added to or reduced their stakes in the company. Nicholas Company Inc. boosted its holdings in Waste Connections by 32.4% during the 4th quarter. Nicholas Company Inc. now owns 449,112 shares of the business services provider's stock worth $78,756,000 after acquiring an additional 109,950 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of Waste Connections by 1.2% in the fourth quarter. Rathbones Group PLC now owns 669,442 shares of the business services provider's stock valued at $117,394,000 after purchasing an additional 7,866 shares during the last quarter. Mirabaud Asset Management Ltd boosted its holdings in Waste Connections by 28.9% during the fourth quarter. Mirabaud Asset Management Ltd now owns 56,620 shares of the business services provider's stock worth $10,754,000 after purchasing an additional 12,680 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Waste Connections by 16.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 60,140 shares of the business services provider's stock worth $10,546,000 after purchasing an additional 8,363 shares during the last quarter. Finally, Everstar Asset Management LLC bought a new stake in Waste Connections in the 4th quarter worth about $2,100,000. Institutional investors and hedge funds own 86.09% of the company's stock.
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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