Waste Connections (NYSE:WCN) COO Jason Craft Sells 1,500 Shares

Waste Connections, Inc. (NYSE:WCN) COO Jason Craft sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the transaction, the chief operating officer owned 32,861 shares in the company, valued at $5,145,703.99. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Waste Connections Price Performance

NYSE WCN opened at $157.63 on Wednesday. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $192.72. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $39.99 billion, a PE ratio of 38.45, a P/E/G ratio of 2.73 and a beta of 0.51. The company’s 50 day simple moving average is $158.01 and its 200 day simple moving average is $165.46.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Wednesday, May 6th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 6th. Waste Connections’s dividend payout ratio (DPR) is currently 34.15%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WCN. Dynamic Technology Lab Private Ltd purchased a new position in Waste Connections during the 3rd quarter worth approximately $1,911,000. Cidel Asset Management Inc. grew its position in Waste Connections by 19.5% during the 3rd quarter. Cidel Asset Management Inc. now owns 163,675 shares of the business services provider’s stock worth $28,780,000 after purchasing an additional 26,684 shares in the last quarter. Trium Capital LLP purchased a new position in Waste Connections during the 4th quarter worth approximately $1,995,000. Procyon Advisors LLC purchased a new position in Waste Connections during the 4th quarter worth approximately $1,908,000. Finally, Gradient Investments LLC grew its position in Waste Connections by 18.5% during the 4th quarter. Gradient Investments LLC now owns 145,595 shares of the business services provider’s stock worth $25,532,000 after purchasing an additional 22,722 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

WCN has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday, April 24th. Scotiabank set a $197.00 price objective on shares of Waste Connections and gave the company a “sector outperform” rating in a research note on Friday, February 13th. Barclays set a $180.00 price target on shares of Waste Connections and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. TD Cowen decreased their price target on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Morgan Stanley set a $205.00 price target on shares of Waste Connections and gave the stock an “overweight” rating in a research report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.84.

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.