Insider Selling: Waste Connections (NYSE:WCN) SVP Sells 2,811 Shares of Stock

Waste Connections, Inc. (NYSE:WCN) SVP Robert Michael Cloninger sold 2,811 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Waste Connections Stock Performance

Shares of NYSE WCN traded down $6.22 during midday trading on Thursday, hitting $166.59. 1,840,888 shares of the stock traded hands, compared to its average volume of 1,644,531. The firm has a market capitalization of $42.04 billion, a P/E ratio of 40.14, a PEG ratio of 2.90 and a beta of 0.49. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $191.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50-day moving average of $162.12 and a two-hundred day moving average of $163.21.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.Waste Connections’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, equities analysts forecast that Waste Connections, Inc. will post 5.63 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, August 6th. Waste Connections’s payout ratio is currently 33.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Waste Connections from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Weiss Ratings cut shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. 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. 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 note on Thursday, July 9th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and an average price target of $202.42.

Hedge Funds Weigh In On Waste Connections

Hedge funds have recently modified their holdings of the company. Family Wealth Partners LLC bought a new stake in shares of Waste Connections during the 2nd quarter valued at $204,000. Revolve Wealth Partners LLC purchased a new stake in Waste Connections in the 2nd quarter worth $433,000. Sapient Capital LLC purchased a new stake in Waste Connections in the 2nd quarter worth $390,000. Legacy Wealth Asset Management LLC raised its holdings in Waste Connections by 68.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 15,966 shares of the business services provider’s stock valued at $2,661,000 after acquiring an additional 6,470 shares during the period. Finally, LifeGoal Investments LLC purchased a new position in shares of Waste Connections in the second quarter valued at about $274,000. 86.09% of the stock is currently owned by institutional investors.

About Waste Connections

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.