Waste Connections (NYSE:WCN) Price Target Lowered to $196.00 at BMO Capital Markets

Waste Connections (NYSE:WCN) had its price target reduced by BMO Capital Markets from $198.00 to $196.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other analysts have also recently weighed in on WCN. Truist Financial lifted their price target on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Citigroup lifted their price target on shares of Waste Connections from $190.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Raymond James lifted their price target on shares of Waste Connections from $190.00 to $207.00 and gave the company a “strong-buy” rating in a report on Monday, July 22nd. TD Cowen lifted their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target on shares of Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Stock Down 1.5 %

Shares of NYSE WCN opened at $175.80 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections has a 52 week low of $126.12 and a 52 week high of $187.54. The firm’s fifty day moving average is $182.08 and its 200 day moving average is $175.07. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 2.98 and a beta of 0.72.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Waste Connections will post 4.82 earnings per share for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.315 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.26 dividend on an annualized basis and a yield of 0.72%. Waste Connections’s payout ratio is presently 34.13%.

Insider Buying and Selling

In related news, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the transaction, the chief financial officer now owns 48,899 shares in the company, valued at $8,706,466.95. The trade was 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 Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total value of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the transaction, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at approximately $8,706,466.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,600 shares of company stock worth $3,842,550 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Waste Connections

A number of hedge funds have recently bought and sold shares of WCN. Hexagon Capital Partners LLC raised its position in Waste Connections by 116.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after buying an additional 86 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in Waste Connections in the 3rd quarter worth about $36,000. Asset Dedication LLC purchased a new position in Waste Connections in the 3rd quarter worth about $41,000. Pathway Financial Advisers LLC purchased a new stake in shares of Waste Connections during the 1st quarter valued at about $43,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of Waste Connections in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors 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.