Philip Rivard Sells 2,500 Shares of Waste Connections (NYSE:WCN) Stock

Waste Connections, Inc. (NYSE:WCN) SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the completion of the transaction, the senior vice president directly owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Waste Connections Stock Up 0.9%

WCN stock opened at $169.81 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.66 and a quick ratio of 0.66. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $188.09. The company has a 50-day moving average of $166.53 and a two-hundred day moving average of $163.17. The stock has a market capitalization of $42.72 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 2.89 and a beta of 0.48.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. Waste Connections’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. As a group, equities research analysts anticipate that Waste Connections, Inc. will post 5.62 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s payout ratio is presently 33.73%.

Hedge Funds Weigh In On Waste Connections

A number of hedge funds and other institutional investors have recently bought and sold shares of WCN. XXEC Inc. bought a new position in shares of Waste Connections in the 2nd quarter worth $164,870,000. BlackRock Inc. bought a new stake in Waste Connections in the second quarter valued at about $1,061,947,000. Norges Bank bought a new stake in Waste Connections in the fourth quarter valued at about $697,519,000. The Manufacturers Life Insurance Company acquired a new position in Waste Connections in the second quarter valued at about $589,671,000. Finally, Bank of America Corp DE bought a new position in Waste Connections during the second quarter worth about $510,526,000. 86.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WCN has been the subject of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $208.00 price objective (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $199.00 target price on shares of Waste Connections in a research note on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and issued a $176.00 target price (up from $170.00) on shares of Waste Connections in a report on Tuesday, August 4th. Citigroup increased their target price on shares of Waste Connections from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.89.

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.