Waste Connections (TSE:WCN) Stock Passes Below 50-Day Moving Average – Time to Sell?

Waste Connections, Inc. (TSE:WCN) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$256.44 and traded as low as C$245.21. Waste Connections shares last traded at C$248.60, with a volume of 64,546 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WCN. Eight Capital set a C$270.00 price target on shares of Waste Connections and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. ATB Capital boosted their target price on Waste Connections from C$255.00 to C$260.00 in a research report on Friday, October 25th. Finally, Scotiabank upgraded Waste Connections to a “hold” rating in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Waste Connections currently has a consensus rating of “Hold” and a consensus target price of C$237.33.

Waste Connections Stock Performance

The firm has a 50 day moving average of C$256.44 and a 200-day moving average of C$248.28. The company has a market cap of C$64.15 billion, a P/E ratio of 55.14, a PEG ratio of 2.22 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.70 and a debt-to-equity ratio of 100.60.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.426 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 0.69%. This is a positive change from Waste Connections’s previous quarterly dividend of $0.39. Waste Connections’s dividend payout ratio (DPR) is currently 34.37%.

Insider Buying and Selling

In other news, Senior Officer Robert Andres Nielsen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$260.63, for a total value of C$260,625.00. 0.21% of the stock is owned by insiders.

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.