Waste Connections (NYSE:WCN) Stock Rating Upgraded by Eight Capital

Eight Capital upgraded shares of Waste Connections (NYSE:WCN) to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

Other analysts have also recently issued reports about the company. Truist Financial boosted their price objective on Waste Connections from $180.00 to $200.00 and gave the company a buy rating in a research report on Thursday, July 11th. Oppenheimer boosted their price target on Waste Connections from $181.00 to $191.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Scotiabank assumed coverage on Waste Connections in a research report on Friday, October 4th. They set a sector perform rating and a $196.00 price target for the company. Raymond James boosted their price target on Waste Connections from $190.00 to $207.00 and gave the stock a strong-buy rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada boosted their price target on Waste Connections from $195.00 to $199.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $191.53.

Waste Connections Stock Down 1.1 %

Waste Connections stock opened at $179.90 on Wednesday. The stock has a market capitalization of $46.42 billion, a PE ratio of 53.86, a price-to-earnings-growth ratio of 2.90 and a beta of 0.72. Waste Connections has a 12 month low of $126.12 and a 12 month high of $187.54. The business has a 50 day simple moving average of $181.75 and a 200-day simple moving average of $174.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.70.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. On average, analysts anticipate that Waste Connections will post 4.84 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Wednesday, August 7th. Waste Connections’s dividend payout ratio (DPR) is currently 34.13%.

Insiders Place Their Bets

In other news, SVP Susan Netherton sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total value of $358,260.00. Following the transaction, the senior vice president now owns 10,078 shares of the company’s stock, valued at $1,805,272.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $174.75, for a total value of $401,925.00. Following the transaction, the senior vice president now owns 1,226 shares of the company’s stock, valued at $214,243.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Susan Netherton sold 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $179.13, for a total value of $358,260.00. Following the completion of the transaction, the senior vice president now directly owns 10,078 shares in the company, valued at approximately $1,805,272.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,600 shares of company stock valued at $3,842,550. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Waste Connections

Hedge funds have recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its stake 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 in the last quarter. OFI Invest Asset Management acquired a new position in Waste Connections during the 1st quarter worth about $32,000. Pathway Financial Advisers LLC acquired a new position in Waste Connections during the 1st quarter worth about $43,000. Signature Resources Capital Management LLC acquired a new position in Waste Connections during the 2nd quarter worth about $45,000. Finally, Carolinas Wealth Consulting LLC lifted its stake in Waste Connections by 3,885.7% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock worth $49,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Company Profile

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.