Robert Michael Cloninger Sells 2,811 Shares of Waste Connections (NYSE:WCN) Stock

Waste Connections, Inc. (NYSE:WCN) SVP Robert Michael Cloninger sold 2,811 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. The trade was a 19.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Waste Connections Price Performance

Shares of NYSE WCN opened at $167.54 on Friday. Waste Connections, Inc. has a fifty-two week low of $146.89 and a fifty-two week high of $191.00. The company has a 50 day simple moving average of $162.57 and a two-hundred day simple moving average of $163.25. The company has a market capitalization of $42.28 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 2.85 and a beta of 0.49. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the business earned $1.29 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts expect that Waste Connections, Inc. will post 5.63 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WCN shares. Citigroup boosted their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. BMO Capital Markets restated an “outperform” rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Finally, Barclays increased their price objective on shares of Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Institutional Investors Weigh In On Waste Connections

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCN. Ritholtz Wealth Management raised its stake in Waste Connections by 2.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,042 shares of the business services provider’s stock valued at $533,000 after buying an additional 64 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Waste Connections by 2.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 2,556 shares of the business services provider’s stock worth $449,000 after buying an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Waste Connections by 1.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider’s stock worth $701,000 after buying an additional 65 shares during the last quarter. WPG Advisers LLC grew its holdings in shares of Waste Connections by 7.7% in the fourth quarter. WPG Advisers LLC now owns 919 shares of the business services provider’s stock worth $161,000 after acquiring an additional 66 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Waste Connections by 12.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 607 shares of the business services provider’s stock worth $106,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

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.