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

Shares of Waste Connections, Inc. (NYSE:WCN) have earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $198.61.

Several equities analysts have weighed in on the company. Barclays lifted their target price on Waste Connections from $180.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. Wolfe Research assumed coverage on Waste Connections in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $204.00 target price on the stock. TD Cowen reaffirmed a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Scotiabank set a $193.00 price target on Waste Connections in a research note on Thursday. Finally, Weiss Ratings upgraded Waste Connections from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday.

Waste Connections Price Performance

Shares of NYSE:WCN opened at $165.88 on Friday. The company’s fifty day moving average is $160.82 and its two-hundred day moving average is $161.36. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections has a 12-month low of $146.89 and a 12-month high of $179.74. The company has a market cap of $41.63 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. Equities analysts expect that Waste Connections will post 5.65 earnings per share for the current fiscal year.

Waste Connections Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Robert Cloninger sold 2,811 shares of the firm’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 transaction of $480,737.22. Following the transaction, the senior vice president owned 11,666 shares of the company’s stock, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $416,425.00. Following the transaction, the senior vice president directly owned 734 shares in the company, valued at approximately $122,262.38. The trade was a 77.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Evolve Private Wealth LLC bought a new stake in shares of Waste Connections during the second quarter valued at approximately $1,022,000. Oppenheimer Asset Management Inc. acquired a new stake in Waste Connections during the second quarter valued at approximately $12,398,000. Varenne Capital Partners acquired a new stake in Waste Connections during the second quarter valued at approximately $5,714,000. Legacy Wealth Asset Management LLC boosted its holdings in Waste Connections by 68.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 15,966 shares of the business services provider’s stock valued at $2,661,000 after purchasing an additional 6,470 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new stake in shares of Waste Connections in the 2nd quarter valued at approximately $2,315,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

About Waste Connections

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.