Waste Connections, Inc. (NYSE:WCN – Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Thursday, November 7th will be paid a dividend of 0.315 per share by the business services provider on Thursday, November 14th. This represents a $1.26 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29.
Waste Connections has increased its dividend by an average of 11.4% annually over the last three years. Waste Connections has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Waste Connections to earn $5.46 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 20.9%.
Waste Connections Price Performance
Shares of WCN stock opened at $178.60 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $46.08 billion, a PE ratio of 57.99, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. The firm’s 50-day moving average is $182.16 and its two-hundred day moving average is $175.05. Waste Connections has a 12 month low of $126.12 and a 12 month high of $187.54.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Scotiabank began coverage on Waste Connections in a research note on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target on the stock. TD Cowen increased their target price on shares of Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Citigroup lifted their price target on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Truist Financial upped their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Raymond James boosted their target price on Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.19.
Check Out Our Latest Report on WCN
Insider Transactions at Waste Connections
In related news, CFO Mary Anne Whitney sold 16,300 shares of Waste Connections stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now owns 48,899 shares in the company, valued at $8,706,466.95. The trade was a 0.00 % 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. In other news, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the transaction, the chief financial officer now owns 48,899 shares in the company, valued at approximately $8,706,466.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the sale, the senior vice president now owns 4,321 shares of the company’s stock, valued at $778,428.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,600 shares of company stock valued at $3,842,550. 0.31% of the stock is currently owned by corporate insiders.
About Waste Connections
Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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