Waste Connections (NYSE:WCN) Sets New 12-Month High on Strong Earnings

Shares of Waste Connections, Inc. (NYSE:WCN) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $202.01 and last traded at $197.54, with a volume of 1302 shares. The stock had previously closed at $197.90.

The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.06. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. Waste Connections had a return on equity of 15.54% and a net margin of 6.92%.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Wednesday, May 7th will be issued a $0.315 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.64%. Waste Connections’s dividend payout ratio (DPR) is presently 51.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WCN shares. Scotiabank lifted their price target on Waste Connections from $192.00 to $207.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Citigroup dropped their target price on Waste Connections from $218.00 to $209.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Truist Financial restated a “buy” rating and set a $210.00 price target (up previously from $200.00) on shares of Waste Connections in a report on Friday, February 14th. William Blair initiated coverage on shares of Waste Connections in a research note on Thursday, April 3rd. They set an “outperform” rating for the company. Finally, Jefferies Financial Group reduced their target price on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.43.

Institutional Trading of Waste Connections

Large investors have recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in Waste Connections during the 4th quarter valued at $26,000. Private Trust Co. NA increased its stake in shares of Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock valued at $26,000 after buying an additional 92 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Waste Connections in the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Waste Connections in the fourth quarter valued at about $28,000. Finally, Smartleaf Asset Management LLC lifted its stake in Waste Connections by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $50.83 billion, a P/E ratio of 82.32, a PEG ratio of 3.07 and a beta of 0.67. The company’s fifty day simple moving average is $190.74 and its 200-day simple moving average is $184.85.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.