Brokerages Set Waste Connections, Inc. (NYSE:WCN) Target Price at $202.84

Waste Connections, Inc. (NYSE:WCN) has received an average rating of “Moderate Buy” from the twenty-one analysts that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $202.8421.

Several research firms have recently commented on WCN. JPMorgan Chase & Co. increased their price objective on Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Weiss Ratings downgraded Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Wolfe Research started coverage on Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and issued a $208.00 price objective (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd.

Waste Connections Price Performance

NYSE:WCN opened at $154.03 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s 50-day simple moving average is $156.87 and its 200 day simple moving average is $164.49. The company has a market cap of $39.08 billion, a P/E ratio of 37.57, a P/E/G ratio of 2.75 and a beta of 0.51. Waste Connections has a 52-week low of $146.89 and a 52-week high of $191.91.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. As a group, sell-side analysts forecast that Waste Connections will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently disclosed 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 was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s dividend payout ratio is currently 34.15%.

Insider Transactions at Waste Connections

In other Waste Connections news, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president owned 19,737 shares in the company, valued at $3,084,103.62. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald J. Mittelstaedt acquired 50,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $152.24 per share, for a total transaction of $7,612,000.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 17,605 shares of company stock valued at $2,822,923. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Waste Connections

Institutional investors and hedge funds have recently bought and sold shares of the business. City Holding Co. bought a new stake in Waste Connections in the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in Waste Connections in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Waste Connections in the third quarter valued at approximately $30,000. Whipplewood Advisors LLC raised 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 buying an additional 175 shares during the period. Finally, Transamerica Financial Advisors LLC raised its stake in Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after buying an additional 135 shares during the period. Institutional investors 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.