Waste Connections (NYSE:WCN) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Waste Connections (NYSE:WCN) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other research firms have also recently weighed in on WCN. JPMorgan Chase & Co. upped their target price on Waste Connections from $153.00 to $175.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Scotiabank increased their price target on Waste Connections from $146.50 to $179.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. BMO Capital Markets increased their price target on Waste Connections from $182.00 to $186.00 and gave the company an outperform rating in a research note on Friday, April 26th. Citigroup increased their price target on Waste Connections from $136.00 to $163.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Finally, Royal Bank of Canada dropped their price target on Waste Connections from $196.00 to $195.00 and set an outperform rating for the company in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $179.33.

Waste Connections Stock Down 0.0 %

NYSE WCN opened at $162.08 on Wednesday. The business has a fifty day moving average price of $167.95 and a two-hundred day moving average price of $152.72. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.75 and a quick ratio of 0.75. Waste Connections has a fifty-two week low of $126.12 and a fifty-two week high of $173.02. The stock has a market capitalization of $41.82 billion, a PE ratio of 52.62, a PEG ratio of 2.66 and a beta of 0.66.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Waste Connections will post 4.84 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.285 per share. The ex-dividend date is Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.70%. Waste Connections’s payout ratio is currently 37.01%.

Insiders Place Their Bets

In other Waste Connections news, Director Andrea E. Bertone sold 902 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $169.17, for a total transaction of $152,591.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Waste Connections

Large investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC grew its holdings in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after acquiring an additional 86 shares during the period. Pacifica Partners Inc. acquired a new stake in shares of Waste Connections in the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in shares of Waste Connections in the 1st quarter valued at about $32,000. Headinvest LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at about $36,000. Finally, Operose Advisors LLC acquired a new stake in shares of Waste Connections in the 3rd quarter valued at about $40,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

About Waste Connections

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.