Key Points
- Waste Connections VP James Little sold 2,000 shares at an average price of $185.22, generating $370,440; he retained 32,395 shares after the transaction.
- The company exceeded quarterly expectations, reporting $1.58 in earnings per share and $2.64 billion in revenue, with revenue up 23.8% year over year.
- Waste Connections raised its quarterly dividend to $0.385 per share, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating and an average price target of $203.22.
Waste Connections, Inc. (NYSE:WCN - Get Free Report) VP James Little sold 2,000 shares of the firm's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $185.22, for a total value of $370,440.00. Following the completion of the sale, the vice president owned 32,395 shares of the company's stock, valued at approximately $6,000,201.90. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Waste Connections Stock Up 1.1%
NYSE WCN opened at $181.68 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $187.35. The firm has a market capitalization of $45.52 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 3.29 and a beta of 0.49. The company has a fifty day moving average of $163.05 and a two-hundred day moving average of $163.43.
Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.60 billion. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The company's quarterly revenue was up 23.8% on a year-over-year basis. On average, analysts predict that Waste Connections, Inc. will post 5.70 earnings per share for the current year.
Waste Connections Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a dividend of $0.3850 per share. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, November 5th. This is a positive change from Waste Connections's previous quarterly dividend of $0.35. Waste Connections's payout ratio is currently 31.32%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Oppenheimer reissued an "outperform" rating and issued a $200.00 price objective (up from $193.00) on shares of Waste Connections in a research report on Friday, October 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $205.00 target price on shares of Waste Connections in a research note on Thursday, October 22nd. Citigroup reaffirmed a "neutral" rating and set a $192.00 target price (up from $175.00) on shares of Waste Connections in a research note on Friday, October 23rd. Barclays reiterated a "positive" rating and issued a $189.00 price target (up from $187.00) on shares of Waste Connections in a report on Friday, October 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $206.00 price target on shares of Waste Connections in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Waste Connections presently has a consensus rating of "Moderate Buy" and an average price target of $203.22.
Get Our Latest Stock Analysis on WCN
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position 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 valued at $701,000 after buying an additional 65 shares during the period. AA Financial Advisors LLC grew its stake in Waste Connections by 3.9% in the 3rd quarter. AA Financial Advisors LLC now owns 2,219 shares of the business services provider's stock worth $342,000 after acquiring an additional 84 shares in the last quarter. GAMMA Investing LLC grew its stake in Waste Connections by 2.0% in the 2nd quarter. GAMMA Investing LLC now owns 5,030 shares of the business services provider's stock worth $838,000 after acquiring an additional 99 shares in the last quarter. Athena Wealth Management LLC increased its position in shares of Waste Connections by 6.7% during the third quarter. Athena Wealth Management LLC now owns 1,829 shares of the business services provider's stock worth $282,000 after acquiring an additional 115 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of Waste Connections by 9.2% during the first quarter. Private Advisor Group LLC now owns 1,519 shares of the business services provider's stock worth $247,000 after acquiring an additional 128 shares during the period. 86.09% of the stock is currently owned by institutional investors.
About Waste Connections
(
Get Free Report)
Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.
Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.
Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.
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