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

Shares of Waste Connections, Inc. (NYSE:WCNGet Free Report) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $179.94.

A number of equities research analysts have weighed in on WCN shares. Royal Bank of Canada cut their target price on Waste Connections from $196.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft started coverage on Waste Connections in a research report on Thursday, May 23rd. They issued a “buy” rating and a $189.00 target price for the company. BMO Capital Markets upped their target price on Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. UBS Group downgraded Waste Connections from a “buy” rating to a “neutral” rating and upped their target price for the stock from $170.00 to $181.00 in a research report on Thursday, February 29th. Finally, Jefferies Financial Group increased their price objective on Waste Connections from $195.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

Read Our Latest Analysis on Waste Connections

Insider Transactions at Waste Connections

In other news, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $169.00, for a total value of $169,000.00. Following the transaction, the senior vice president now directly owns 5,321 shares of the company’s stock, valued at $899,249. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total value of $251,385.00. Following the completion of the sale, the director now directly owns 8,004 shares in the company, valued at $1,341,390.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Nielsen III sold 1,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $169.00, for a total transaction of $169,000.00. Following the completion of the sale, the senior vice president now owns 5,321 shares of the company’s stock, valued at $899,249. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,500 shares of company stock valued at $752,385. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Waste Connections

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Waste Connections by 0.3% in the first quarter. Vanguard Group Inc. now owns 28,498,983 shares of the business services provider’s stock worth $4,902,110,000 after purchasing an additional 88,137 shares in the last quarter. Royal Bank of Canada boosted its holdings in Waste Connections by 20.5% in the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock worth $1,516,908,000 after purchasing an additional 1,920,302 shares in the last quarter. TD Asset Management Inc boosted its holdings in Waste Connections by 9.8% during the fourth quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock valued at $856,641,000 after acquiring an additional 509,929 shares during the period. Wellington Management Group LLP boosted its holdings in Waste Connections by 43.4% during the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock valued at $651,427,000 after acquiring an additional 1,320,933 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Waste Connections by 7.3% during the fourth quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock valued at $612,605,000 after acquiring an additional 280,275 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $174.61 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $166.18 and a 200-day simple moving average of $161.38. The company has a market cap of $45.05 billion, a PE ratio of 56.69, a P/E/G ratio of 2.77 and a beta of 0.70. Waste Connections has a 12-month low of $126.12 and a 12-month high of $175.43.

Waste Connections (NYSE:WCNGet Free Report) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts forecast that Waste Connections will post 4.85 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, May 7th. Waste Connections’s dividend payout ratio (DPR) is currently 37.01%.

Waste Connections Company Profile

(Get Free Report

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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Analyst Recommendations for Waste Connections (NYSE:WCN)

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