Waste Connections (NYSE:WCN) Stock: Insider Matthew Stephen Black Sells 11,000 Shares

Waste Connections, Inc. (NYSE:WCN) SVP Matthew Black sold 11,000 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $180.60, for a total value of $1,986,600.00. Following the transaction, the senior vice president owned 32,530 shares in the company, valued at $5,874,918. This trade represents a 25.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Waste Connections Stock Performance

NYSE WCN opened at $186.35 on Wednesday. The company has a market cap of $46.69 billion, a P/E ratio of 33.60, a P/E/G ratio of 3.44 and a beta of 0.43. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a 50-day moving average of $164.07 and a two-hundred day moving average of $163.75. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $188.60.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.06. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.60 billion. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, analysts anticipate that Waste Connections, Inc. will post 5.70 EPS for the current year.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a $0.3850 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s payout ratio is currently 31.32%.

Institutional Investors Weigh In On Waste Connections

Large investors have recently added to or reduced their stakes in the business. Group One Trading LLC acquired a new stake in Waste Connections during the second quarter worth approximately $30,000. Whipplewood Advisors LLC grew its stake in Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after acquiring an additional 175 shares during the period. Western Wealth Management LLC acquired a new position in Waste Connections in the 1st quarter valued at $41,000. Johnson Financial Group Inc. acquired a new position in Waste Connections in the 2nd quarter valued at $45,000. Finally, Wellington Altus USA Inc. raised its holdings in Waste Connections by 205.6% in the 2nd quarter. Wellington Altus USA Inc. now owns 275 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 185 shares during the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on WCN. The Goldman Sachs Group reissued a “buy” rating and set a $205.00 price objective on shares of Waste Connections in a research report on Thursday, October 22nd. Wells Fargo & Company upped their target price on shares of Waste Connections from $187.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Barclays reiterated 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. Wolfe Research initiated coverage on Waste Connections in a report on Tuesday, September 15th. They set an “outperform” rating and a $204.00 price target on the stock. Finally, TD Cowen reissued a “buy” rating and set a $215.00 price target (up from $210.00) on shares of Waste Connections in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.22.

Waste Connections Company Profile

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.