Barclays Issues Positive Forecast for Waste Connections (NYSE:WCN) Stock Price

Waste Connections (NYSE:WCN) had its target price lifted by equities research analysts at Barclays from $180.00 to $187.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price target suggests a potential upside of 10.24% from the stock’s previous close.

WCN has been the topic of several other reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $199.00 price target on shares of Waste Connections in a report on Friday. BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.42.

Waste Connections Stock Up 0.0%

Shares of Waste Connections stock opened at $169.63 on Tuesday. 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 stock has a market capitalization of $42.80 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.91 and a beta of 0.49. Waste Connections has a 52-week low of $146.89 and a 52-week high of $191.91. The company has a 50-day simple moving average of $161.57 and a two-hundred day simple moving average of $163.18.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. On average, analysts anticipate that Waste Connections will post 5.6 EPS for the current fiscal year.

Insider Transactions at Waste Connections

In other news, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the acquisition, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. The trade was a 19.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,000 shares of company stock valued at $2,395,755. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of Waste Connections by 0.9% in the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider’s stock worth $1,983,500,000 after buying an additional 106,763 shares during the last quarter. Capital International Investors raised its position in Waste Connections by 28.2% in the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock worth $1,134,781,000 after acquiring an additional 1,420,921 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after acquiring an additional 1,289,042 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Waste Connections by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 4,675,737 shares of the business services provider’s stock valued at $819,939,000 after acquiring an additional 220,575 shares during the period. Finally, Norges Bank bought a new stake in shares of Waste Connections during the 4th quarter valued at $697,519,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

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.