Waste Connections (NYSE:WCN) CEO Ronald Mittelstaedt Acquires 50,000 Shares

Waste Connections, Inc. (NYSE:WCN) CEO Ronald Mittelstaedt acquired 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 301,017 shares in the company, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Waste Connections Price Performance

Shares of Waste Connections stock opened at $152.01 on Thursday. Waste Connections, Inc. has a twelve month low of $148.84 and a twelve month high of $198.00. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13. The company has a 50-day simple moving average of $162.17 and a two-hundred day simple moving average of $167.50. The stock has a market capitalization of $38.80 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 2.69 and a beta of 0.55.

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

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections’s payout ratio is 34.15%.

Wall Street Analysts Forecast Growth

Several research firms have commented on WCN. Barclays set a $180.00 target price on shares of Waste Connections and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Stifel Nicolaus set a $213.00 target price on shares of Waste Connections and gave the company a “buy” rating in a report on Friday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft set a $212.00 target price on shares of Waste Connections in a report on Friday, February 13th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $203.35.

Institutional Investors Weigh In On Waste Connections

Hedge funds and other institutional investors have recently made changes to their positions in the stock. City Holding Co. bought a new stake in shares of Waste Connections during the 4th quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Waste Connections during the 3rd quarter valued at approximately $30,000. Finally, Greykasell Wealth Strategies Inc. grew its holdings in shares of Waste Connections by 555.2% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

Waste Connections Company Profile

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.