Waste Connections (NYSE:WCN) CAO Sells $186,770.00 in Stock

Waste Connections, Inc. (NYSE:WCN) CAO Derek Tan sold 1,000 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $186.77, for a total transaction of $186,770.00. Following the sale, the chief accounting officer directly owned 404 shares of the company’s stock, valued at approximately $75,455.08. This represents a 71.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Waste Connections Stock Performance

Waste Connections stock traded down $2.57 on Wednesday, reaching $179.40. 2,011,343 shares of the stock were exchanged, compared to its average volume of 1,595,584. The stock has a market cap of $44.95 billion, a PE ratio of 40.14, a PEG ratio of 3.35 and a beta of 0.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20. Waste Connections, Inc. has a twelve month low of $146.89 and a twelve month high of $187.35. The firm has a fifty day moving average price of $162.53 and a two-hundred day moving average price of $163.30.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.60 billion. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. Sell-side analysts anticipate that Waste Connections, Inc. will post 5.70 EPS for the current year.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders 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. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.54 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s payout ratio is 31.32%.

Hedge Funds Weigh In On Waste Connections

Several large investors have recently added to or reduced their stakes in the company. Group One Trading LLC bought a new stake in shares of Waste Connections in the 2nd quarter worth approximately $30,000. Whipplewood Advisors LLC raised its stake in shares of Waste Connections by 1,166.7% in the first 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 in the last quarter. Western Wealth Management LLC acquired a new position in shares of Waste Connections in the first quarter valued at $41,000. Johnson Financial Group Inc. bought a new position in Waste Connections in the second quarter worth $45,000. Finally, Wellington Altus USA Inc. lifted its position in Waste Connections by 205.6% in 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 during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WCN shares. Weiss Ratings upgraded Waste Connections from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 15th. UBS Group restated a “buy” rating and issued a $215.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $221.00 target price (up from $218.00) on shares of Waste Connections in a research report on Friday, October 23rd. TD Cowen reiterated a “buy” rating and set a $215.00 target price (up from $210.00) on shares of Waste Connections in a research note on Friday, October 23rd. Finally, Barclays reissued a “positive” rating and issued a $189.00 price target (up from $187.00) on shares of Waste Connections in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $203.22.

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.