Waste Connections (NYSE:WCN) Sets New 1-Year Low – Here’s What Happened

Waste Connections, Inc. (NYSE:WCN) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $154.90 and last traded at $156.0870, with a volume of 138437 shares changing hands. The stock had previously closed at $157.78.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WCN shares. BNP Paribas Exane began coverage on shares of Waste Connections in a research report on Tuesday, January 6th. They set an “outperform” rating for the company. UBS Group set a $205.00 price target on shares of Waste Connections in a research report on Monday, January 5th. Citigroup reissued a “neutral” rating and issued a $183.00 price objective (down from $196.00) on shares of Waste Connections in a report on Friday, January 16th. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a research note on Friday, February 13th. Finally, Stifel Nicolaus set a $213.00 target price on Waste Connections and gave the stock a “buy” rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $203.52.

Waste Connections Stock Performance

The stock’s 50-day moving average price is $166.94 and its 200-day moving average price is $170.85. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $39.90 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.79 and a beta of 0.62.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 11th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.37 billion. Waste Connections had a net margin of 11.37% and a return on equity of 16.25%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. As a group, equities analysts expect that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.40 annualized dividend and a dividend yield of 0.9%. Waste Connections’s dividend payout ratio is 33.57%.

Institutional Trading of Waste Connections

Several hedge funds have recently made changes to their positions in the stock. Purpose Unlimited Inc. acquired a new stake in Waste Connections in the fourth quarter worth $534,000. Rockefeller Capital Management L.P. lifted its stake in Waste Connections by 43.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,580 shares of the business services provider’s stock valued at $1,154,000 after buying an additional 2,003 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Waste Connections by 20.3% during the fourth quarter. World Investment Advisors now owns 2,048 shares of the business services provider’s stock valued at $359,000 after acquiring an additional 345 shares during the period. Pure Financial Advisors LLC bought a new position in shares of Waste Connections during the fourth quarter worth about $302,000. Finally, SHP Wealth Management bought a new position in shares of Waste Connections during the fourth quarter worth about $68,000. Institutional investors own 86.09% of the company’s stock.

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.