Waste Connections, Inc. (NYSE:WCN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Waste Connections, Inc. (NYSE:WCN) has been given a consensus recommendation of “Moderate Buy” by the twenty ratings firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $200.8947.

A number of research firms have recently commented on WCN. UBS Group reaffirmed a “neutral” rating and issued a $176.00 price target (up from $170.00) on shares of Waste Connections in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Citigroup raised their target price on Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their target price on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th. Finally, TD Cowen reaffirmed a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a report on Friday, July 24th.

Waste Connections Stock Performance

NYSE WCN opened at $166.66 on Monday. The firm has a market cap of $42.05 billion, a P/E ratio of 40.16, a price-to-earnings-growth ratio of 2.87 and a beta of 0.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The company’s 50 day moving average is $163.99 and its 200-day moving average is $163.27. Waste Connections has a 12-month low of $146.89 and a 12-month high of $191.00.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the firm earned $1.29 EPS. Waste Connections’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts predict that Waste Connections will post 5.62 earnings per share for the current year.

Waste Connections Announces Dividend

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

Insider Activity

In other Waste Connections news, COO Jason Craft sold 1,500 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total value of $234,885.00. Following the sale, the chief operating officer directly owned 32,861 shares in the company, valued at $5,145,703.99. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert Michael Cloninger sold 2,811 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. The trade was a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,811 shares of company stock worth $1,887,572 in the last three months. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Institutional investors and hedge funds have recently made changes to their positions in the business. City Holding Co. purchased a new position in Waste Connections during the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections in the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC raised its holdings in shares of Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Waste Connections during the fourth quarter worth about $36,000. 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.