Waste Connections, Inc. (NYSE:WCN) Receives $203.52 Average PT from Brokerages

Waste Connections, Inc. (NYSE:WCN) has received an average recommendation of “Buy” from the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $203.5238.

Several research analysts have issued reports on the stock. Morgan Stanley set a $205.00 target price on shares of Waste Connections and gave the stock an “overweight” rating in a report on Friday, February 13th. TD Cowen reduced their price target on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Stifel Nicolaus set a $213.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a report on Friday, February 13th. Wolfe Research started coverage on Waste Connections in a research report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective on the stock. Finally, Barclays set a $176.00 target price on Waste Connections and gave the company an “equal weight” rating in a research note on Friday, February 13th.

Hedge Funds Weigh In On Waste Connections

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in Waste Connections in the fourth quarter worth about $697,519,000. Capital International Investors lifted its stake in shares of Waste Connections by 28.2% in the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider’s stock worth $1,134,781,000 after purchasing an additional 1,420,921 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Waste Connections by 37.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider’s stock worth $835,370,000 after purchasing an additional 1,289,042 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Waste Connections by 39.6% in the third quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock worth $783,218,000 after buying an additional 1,264,150 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Waste Connections by 58.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,900,321 shares of the business services provider’s stock valued at $508,600,000 after buying an additional 1,065,653 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $165.96 on Tuesday. The business has a fifty day moving average price of $165.97 and a 200-day moving average price of $170.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market capitalization of $42.36 billion, a PE ratio of 39.80, a PEG ratio of 2.85 and a beta of 0.61. Waste Connections has a 1-year low of $154.90 and a 1-year high of $201.66.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, February 11th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Waste Connections’s revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Waste Connections will post 5.28 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is 33.57%.

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.