Waste Connections (NYSE:WCN) SVP Sells $1,986,600.00 in Stock

Waste Connections, Inc. (NYSE:WCN) SVP Matthew Black sold 11,000 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $180.60, for a total value of $1,986,600.00. Following the completion of the transaction, the senior vice president directly owned 32,530 shares in the company, valued at $5,874,918. This represents a 25.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Waste Connections Price Performance

Shares of NYSE WCN opened at $191.84 on Thursday. The firm has a market capitalization of $48.06 billion, a P/E ratio of 33.33, a P/E/G ratio of 3.42 and a beta of 0.43. The firm’s 50-day moving average price is $164.58 and its 200-day moving average price is $163.87. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $192.64.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, October 21st. The business services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.60 billion. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. Equities research analysts anticipate that Waste Connections, Inc. will post 5.70 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a dividend of $0.3850 per share. This represents a $1.54 annualized dividend and a yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, November 5th. Waste Connections’s dividend payout ratio is presently 31.32%.

Analysts Set New Price Targets

Several research firms have commented on WCN. JPMorgan Chase & Co. dropped their target price on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $221.00 price target (up from $218.00) on shares of Waste Connections in a report on Friday, October 23rd. Wells Fargo & Company lifted their price target on Waste Connections from $187.00 to $211.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Citigroup reissued a “neutral” rating and issued a $192.00 price objective (up from $175.00) on shares of Waste Connections in a research report on Friday, October 23rd. Finally, Barclays restated a “positive” rating and issued a $189.00 price objective (up from $187.00) on shares of Waste Connections in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus target price of $203.22.

Hedge Funds Weigh In On Waste Connections

Several institutional investors have recently bought and sold shares of WCN. XXEC Inc. purchased a new position in shares of Waste Connections in the second quarter worth about $164,870,000. BlackRock Inc. bought a new stake in shares of Waste Connections in the second quarter valued at approximately $1,061,947,000. The Manufacturers Life Insurance Company bought a new stake in shares of Waste Connections in the second quarter valued at approximately $589,671,000. Bank of America Corp DE bought a new stake in shares of Waste Connections in the second quarter valued at approximately $510,526,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Waste Connections during the 2nd quarter valued at approximately $477,944,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.