Analysts Set Waste Connections, Inc. (NYSE:WCN) Price Target at $202.84

Shares of Waste Connections, Inc. (NYSE:WCN) have earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $202.8421.

Several analysts recently commented on WCN shares. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. BMO Capital Markets reissued an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th. Barclays set a $180.00 price objective on shares of Waste Connections and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. increased their price objective on shares of Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a research report on Thursday, April 23rd.

Waste Connections Stock Up 0.0%

NYSE:WCN opened at $154.03 on Friday. The firm’s 50-day moving average price is $156.69 and its 200-day moving average price is $164.42. The company has a market capitalization of $39.08 billion, a PE ratio of 37.57, a P/E/G ratio of 2.73 and a beta of 0.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. Waste Connections has a 1-year low of $146.89 and a 1-year high of $191.91.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $1.13 EPS. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts predict that Waste Connections will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections’s dividend payout ratio is 34.15%.

Insider Activity at Waste Connections

In related news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer owned 32,861 shares in the company, valued at $5,145,703.99. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,605 shares of company stock worth $2,822,923 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently bought and sold shares of WCN. Integrated Wealth Concepts LLC bought a new position in Waste Connections during the 1st quarter valued at about $577,000. Invesco Ltd. lifted its stake in Waste Connections by 12.8% during the 2nd quarter. Invesco Ltd. now owns 219,290 shares of the business services provider’s stock valued at $40,946,000 after acquiring an additional 24,948 shares during the period. First Trust Advisors LP lifted its stake in Waste Connections by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 24,463 shares of the business services provider’s stock valued at $4,572,000 after acquiring an additional 688 shares during the period. Jump Financial LLC bought a new position in Waste Connections during the 2nd quarter valued at about $2,714,000. Finally, State Street Corp lifted its stake in Waste Connections by 1.0% during the 2nd quarter. State Street Corp now owns 1,808,631 shares of the business services provider’s stock valued at $337,708,000 after acquiring an additional 17,197 shares during the period. Institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

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.