Waste Connections, Inc. (NYSE:WCN) Stock Has Consensus Price Target of $198.61

Waste Connections, Inc. (NYSE:WCN) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $202.39.

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Waste Connections from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 15th. Raymond James Financial set a $189.00 target price on shares of Waste Connections in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Waste Connections from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $205.00 price objective on shares of Waste Connections in a research note on Thursday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $206.00 target price on shares of Waste Connections in a research note on Friday.

Insider Activity

In related news, SVP Philip Rivard sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the sale, the senior vice president directly owned 734 shares in the company, valued at approximately $122,262.38. This trade represents a 77.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Cloninger sold 2,811 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total value of $480,737.22. Following the completion of the transaction, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Waste Connections

Hedge funds and other institutional investors have recently modified their holdings of the business. Group One Trading LLC purchased a new position in shares of Waste Connections during the 2nd quarter worth approximately $30,000. Whipplewood Advisors LLC increased its holdings in Waste Connections by 1,166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 175 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Waste Connections in the first quarter valued at approximately $41,000. Johnson Financial Group Inc. purchased a new stake in Waste Connections in the second quarter valued at approximately $45,000. Finally, Wellington Altus USA Inc. lifted its stake in Waste Connections by 205.6% during the second quarter. Wellington Altus USA Inc. now owns 275 shares of the business services provider’s stock worth $48,000 after purchasing an additional 185 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Up 0.9%

NYSE WCN opened at $186.48 on Friday. The business has a fifty day moving average price of $161.75 and a 200 day moving average price of $161.73. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.66 and a current ratio of 0.67. The company has a market cap of $46.72 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.24 and a beta of 0.49. Waste Connections has a one year low of $146.89 and a one year high of $187.27.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections had a net margin of 11.40% and a return on equity of 17.76%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. Research analysts anticipate that Waste Connections will post 5.65 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.3850 dividend. This is an increase from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, November 5th. Waste Connections’s payout ratio is currently 33.73%.

More Waste Connections News

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Analysts raised price targets: Deutsche Bank lifted its target from $191 to $205 and maintained a “buy” rating. Wells Fargo raised its target from $187 to $211 and upgraded its stance to “overweight,” while Scotiabank increased its target from $193 to $201 and retained a “sector outperform” rating. The targets imply approximately 8% to 13% upside from the referenced share price.
• Positive Sentiment: Third-quarter results exceeded expectations: Waste Connections reported adjusted earnings of $1.58 per share, up from $1.44 a year earlier and ahead of the $1.52 consensus estimate. Revenue rose 23.8% year over year to $2.64 billion, also surpassing analyst expectations. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management raised its outlook as landfill volumes improved, supporting expectations for continued revenue and profit growth. Acquisitions are also contributing to earnings growth and expanding the company’s disposal-services platform. Waste Connections Raises Outlook as Landfill Volumes Improve
• Positive Sentiment: Dividend increased 10%: Waste Connections raised its quarterly dividend to $0.385 per share from $0.35, equivalent to $1.54 annually. The increase signals confidence in cash flow and enhances shareholder returns. Waste Connections Raised Its Dividend 10%

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.