Waste Connections (NYSE:WCN) SVP Sells 2,500 Shares

Waste Connections, Inc. (NYSE:WCN) SVP Philip Rivard sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the sale, the senior vice president directly owned 734 shares in the company, valued at approximately $122,262.38. This represents a 77.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Waste Connections Trading Down 0.1%

NYSE WCN traded down $0.24 during mid-day trading on Thursday, reaching $168.51. 765,700 shares of the stock were exchanged, compared to its average volume of 1,599,263. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $188.09. The stock has a 50 day simple moving average of $165.99 and a 200-day simple moving average of $163.11. The stock has a market cap of $42.39 billion, a P/E ratio of 40.60, a P/E/G ratio of 2.84 and a beta of 0.48. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. On average, analysts anticipate that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on WCN shares. Citigroup increased their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Barclays raised their price objective on Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. UBS Group reissued a “neutral” rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a research note on Tuesday, August 4th. TD Cowen restated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new position in shares of Waste Connections in the 3rd quarter valued at approximately $26,000. Group One Trading LLC bought a new position in Waste Connections in the 2nd quarter worth about $30,000. Whipplewood Advisors LLC grew its position in Waste Connections by 1,166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC increased its stake in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 135 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Waste Connections in the fourth quarter worth about $36,000. 86.09% of the stock is currently owned by institutional investors.

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.