Waste Connections, Inc. (NYSE:WCN) Receives $148.25 Consensus Target Price from Analysts

Waste Connections, Inc. (NYSE:WCNGet Rating) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $148.25.

A number of brokerages have recently weighed in on WCN. Royal Bank of Canada boosted their price objective on shares of Waste Connections from $147.00 to $152.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. BMO Capital Markets raised their price target on Waste Connections from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Raymond James increased their target price on Waste Connections from $146.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, August 5th. Morgan Stanley lifted their price target on Waste Connections from $146.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Waste Connections from $145.00 to $154.00 in a research note on Tuesday, August 9th.

Insiders Place Their Bets

In other Waste Connections news, Director William J. Razzouk sold 4,073 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $140.03, for a total transaction of $570,342.19. Following the transaction, the director now owns 4,016 shares of the company’s stock, valued at approximately $562,360.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Waste Connections

Several institutional investors and hedge funds have recently made changes to their positions in WCN. Vanguard Group Inc. boosted its stake in Waste Connections by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 26,534,494 shares of the business services provider’s stock worth $3,706,868,000 after acquiring an additional 178,766 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Waste Connections by 0.6% during the first quarter. Royal Bank of Canada now owns 9,806,311 shares of the business services provider’s stock worth $1,369,941,000 after purchasing an additional 57,714 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Waste Connections by 23.9% in the 4th quarter. BlackRock Inc. now owns 9,147,120 shares of the business services provider’s stock valued at $1,246,479,000 after buying an additional 1,766,471 shares during the period. Pictet Asset Management SA increased its position in shares of Waste Connections by 5.4% in the 2nd quarter. Pictet Asset Management SA now owns 6,838,524 shares of the business services provider’s stock valued at $846,090,000 after buying an additional 349,859 shares in the last quarter. Finally, Bishop Rock Capital L.P. raised its stake in Waste Connections by 5,087.3% during the 2nd quarter. Bishop Rock Capital L.P. now owns 5,530,104 shares of the business services provider’s stock worth $44,612,000 after buying an additional 5,423,495 shares during the period. Institutional investors own 79.33% of the company’s stock.

Waste Connections Stock Up 0.6 %

Waste Connections stock opened at $146.40 on Thursday. Waste Connections has a twelve month low of $113.50 and a twelve month high of $147.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $37.65 billion, a PE ratio of 55.45, a P/E/G ratio of 3.07 and a beta of 0.69. The firm’s 50 day moving average price is $134.68 and its two-hundred day moving average price is $132.05.

Waste Connections (NYSE:WCNGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. Waste Connections had a return on equity of 13.38% and a net margin of 10.25%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. On average, research analysts predict that Waste Connections will post 3.75 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.63%. Waste Connections’s dividend payout ratio is 34.85%.

About Waste Connections

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Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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