Analysts Set Waste Connections, Inc. (NYSE:WCN) Target Price at $202.42

Shares of Waste Connections, Inc. (NYSE:WCN) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $200.8947.

A number of equities research analysts have weighed in on WCN shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 target price on shares of Waste Connections in a research report on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $176.00 price target (up from $170.00) on shares of Waste Connections in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th.

Waste Connections Trading Down 0.7%

Shares of WCN stock opened at $164.37 on Monday. The firm has a fifty day moving average of $163.31 and a 200-day moving average of $163.24. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 39.61, a P/E/G ratio of 2.84 and a beta of 0.48. Waste Connections has a 52-week low of $146.89 and a 52-week high of $191.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.66 and a current ratio of 0.66.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that Waste Connections will post 5.62 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio (DPR) is 33.73%.

Insider Activity

In other news, CEO Ronald J. Mittelstaedt purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the acquisition, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert Michael Cloninger sold 2,811 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,811 shares of company stock valued at $1,887,572. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC acquired a new stake in Waste Connections in the 2nd quarter valued at about $133,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Waste Connections during the second quarter worth approximately $12,398,000. Dockside LLC bought a new stake in shares of Waste Connections during the second quarter valued at approximately $698,000. Family Wealth Partners LLC bought a new position in Waste Connections in the 2nd quarter worth approximately $204,000. Finally, Revolve Wealth Partners LLC bought a new position in Waste Connections in the 2nd quarter worth approximately $433,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

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.