Waste Connections, Inc. (NYSE:WCN) Receives Average Recommendation of “Buy” from Brokerages

Waste Connections, Inc. (NYSE:WCN) has been given an average rating of “Buy” by the twenty-five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, sixteen have assigned a buy recommendation and five have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $208.3684.

A number of equities research analysts recently weighed in on the stock. Barclays restated a “negative” rating on shares of Waste Connections in a report on Thursday, October 23rd. Stifel Nicolaus decreased their price target on Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Oppenheimer raised their price objective on Waste Connections from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Sanford C. Bernstein assumed coverage on shares of Waste Connections in a report on Wednesday, November 12th. They set an “outperform” rating and a $200.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of Waste Connections in a report on Monday, November 24th. They issued a “buy” rating and a $202.00 target price for the company.

Insider Activity at Waste Connections

In other news, Director Edward E. Guillet sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the transaction, the director owned 14,883 shares in the company, valued at $2,596,190.52. The trade was a 37.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections during the 3rd quarter worth $26,000. Asset Dedication LLC purchased a new stake in Waste Connections during the second quarter worth about $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in Waste Connections in the third quarter worth about $30,000. Greykasell Wealth Strategies Inc. raised its position in Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares during the period. Finally, AlphaCore Capital LLC purchased a new position in Waste Connections in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $177.84 on Friday. Waste Connections has a twelve month low of $163.27 and a twelve month high of $201.66. The stock’s 50 day moving average is $172.63 and its 200-day moving average is $178.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $45.48 billion, a price-to-earnings ratio of 74.10, a PEG ratio of 3.52 and a beta of 0.62.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business posted $1.35 EPS. Waste Connections’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Waste Connections will post 5.28 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were paid a $0.35 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections’s dividend payout ratio (DPR) is 58.33%.

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.