Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Matthew Black sold 11,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $180.60, for a total transaction of $1,986,600.00. Following the sale, the senior vice president owned 32,530 shares of the company's stock, valued at approximately $5,874,918. This trade represents a 25.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Waste Connections Price Performance
WCN stock opened at $188.04 on Tuesday. The firm has a market cap of $47.11 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 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 12-month low of $146.89 and a 12-month high of $188.20. The company's fifty day simple moving average is $163.72 and its 200 day simple moving average is $163.65.
Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The business services provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.06. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.60 billion. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts expect that Waste Connections, Inc. will post 5.70 earnings per share for the current year.
Waste Connections Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be issued a $0.3850 dividend. The ex-dividend date is Thursday, November 5th. This is an increase from Waste Connections's previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. Waste Connections's dividend payout ratio is presently 31.32%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on WCN shares. BMO Capital Markets restated an "outperform" rating and set a $206.00 price target on shares of Waste Connections in a report on Friday, October 23rd. Wells Fargo & Company lifted their price objective on shares of Waste Connections from $187.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, October 23rd. The Goldman Sachs Group reiterated a "buy" rating and set a $205.00 target price on shares of Waste Connections in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Waste Connections from $191.00 to $205.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Finally, Barclays reissued a "positive" rating and set a $189.00 target price (up from $187.00) on shares of Waste Connections in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $203.22.
Get Our Latest Stock Analysis on WCN
Institutional Investors Weigh In On Waste Connections
Hedge funds and other institutional investors have recently made changes to their positions in the business. CenterBook Partners LP purchased a new stake in shares of Waste Connections during the third quarter valued at approximately $265,000. Argonautica Private Wealth Management Inc. boosted its position in Waste Connections by 5.3% in the third quarter. Argonautica Private Wealth Management Inc. now owns 4,464 shares of the business services provider's stock worth $687,000 after purchasing an additional 223 shares during the last quarter. Kestra Advisory Services LLC boosted its position in Waste Connections by 2.2% in the third quarter. Kestra Advisory Services LLC now owns 7,730 shares of the business services provider's stock worth $1,190,000 after purchasing an additional 163 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Waste Connections by 4.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,216 shares of the business services provider's stock worth $1,265,000 after purchasing an additional 355 shares during the last quarter. Finally, Ascent Group LLC grew its stake in Waste Connections by 4.1% in the 3rd quarter. Ascent Group LLC now owns 1,516 shares of the business services provider's stock valued at $233,000 after purchasing an additional 60 shares during the period. 86.09% of the stock is 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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