Waste Connections (TSE:WCN) Hits New 52-Week High – Here’s What Happened

Waste Connections, Inc. (TSE:WCN) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$274.03 and last traded at C$273.92, with a volume of 348,008 shares trading hands. The stock had previously closed at C$271.03.

Analyst Ratings Changes

Separately, UBS Group raised shares of Waste Connections from a “hold” rating to a “buy” rating and set a C$200.00 price target on the stock in a research note on Friday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus price target of C$200.00.

Waste Connections Stock Up 0.5%

The firm has a fifty day moving average of C$235.91 and a 200-day moving average of C$228.72. The company has a quick ratio of 0.74, a current ratio of 0.67 and a debt-to-equity ratio of 123.96. The firm has a market cap of C$69.44 billion, a P/E ratio of 62.23, a price-to-earnings-growth ratio of 2.22 and a beta of 0.53.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 19th will be paid a $0.3850 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.54 annualized dividend and a yield of 0.6%. Waste Connections’s dividend payout ratio is presently 31.39%.

Insider Buying and Selling at Waste Connections

In related news, insider James M. Little sold 2,000 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of C$258.79, for a total value of C$517,580.00. Following the completion of the sale, the insider directly owned 32,395 shares in the company, valued at C$8,383,502.05. This represents a 5.81% decrease in their ownership of the stock. Company insiders own 0.21% of the company’s stock.

About Waste Connections

Waste Connections ( wasteconnections.com ) is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, including by rail, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves approximately nine million residential, commercial and industrial customers in mostly exclusive and secondary markets across 46 states in the U.S. and six provinces in Canada. Waste Connections also provides non-hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S. and Canada, as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest.