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

Waste Connections, Inc. (NYSE:WCN) has received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $202.8421.

Several equities analysts recently issued reports on WCN shares. Barclays set a $180.00 price target on shares of Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Wolfe Research initiated coverage on Waste Connections in a research report on Friday, March 13th. They set an “outperform” rating and a $199.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $218.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $211.00 price target on shares of Waste Connections in a report on Thursday, April 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a research report on Friday, April 24th.

Waste Connections Stock Performance

Waste Connections stock opened at $171.69 on Thursday. The firm has a market capitalization of $43.56 billion, a P/E ratio of 41.88, a P/E/G ratio of 3.07 and a beta of 0.49. The stock has a fifty day moving average price of $157.99 and a two-hundred day moving average price of $163.74. Waste Connections has a 52-week low of $146.89 and a 52-week high of $191.91. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that Waste Connections will post 5.49 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s payout ratio is currently 34.15%.

Insider Activity at Waste Connections

In related news, SVP Eric Hansen sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $164.82, for a total value of $988,920.00. Following the completion of the sale, the senior vice president owned 13,350 shares of the company’s stock, valued at $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the transaction, the chief executive officer directly owned 301,017 shares in the company, valued at $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 17,605 shares of company stock valued at $2,822,923 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WCN. City Holding Co. bought a new stake in shares of Waste Connections during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Waste Connections in the third quarter valued at approximately $30,000. Whipplewood Advisors LLC boosted its stake in Waste Connections by 1,166.7% in the first 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 during the last quarter. Finally, Transamerica Financial Advisors LLC grew its holdings in Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after acquiring an additional 135 shares during the period. 86.09% of the stock is currently owned by institutional investors.

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.