Waste Connections (NYSE:WCN) VP Patrick James Shea Sells 7,500 Shares of Stock

Waste Connections, Inc. (NYSE:WCN) VP Patrick James Shea sold 7,500 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the transaction, the vice president owned 19,737 shares of the company’s stock, valued at $3,084,103.62. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Waste Connections Trading Up 2.6%

Shares of WCN stock opened at $157.63 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.69 and a current ratio of 0.69. Waste Connections, Inc. has a 1 year low of $146.89 and a 1 year high of $192.72. The stock has a fifty day moving average of $158.01 and a two-hundred day moving average of $165.46. The firm has a market capitalization of $39.99 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51.

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

Waste Connections Dividend Announcement

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

Institutional Investors Weigh In On Waste Connections

Hedge funds have recently modified their holdings of the stock. City Holding Co. purchased a new stake in shares of Waste Connections during the fourth quarter valued at $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the third quarter valued at $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Waste Connections during the third quarter valued at $30,000. Whipplewood Advisors LLC lifted its holdings in shares of Waste Connections by 1,166.7% during 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 during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Waste Connections by 346.2% during the fourth 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. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on WCN shares. Scotiabank set a $197.00 price objective on Waste Connections and gave the company a “sector outperform” rating in a report on Friday, February 13th. Stifel Nicolaus set a $213.00 price objective on Waste Connections and gave the company a “buy” rating in a report on Friday, February 13th. Morgan Stanley set a $205.00 price objective on Waste Connections and gave the company an “overweight” rating in a report on Friday, February 13th. Wolfe Research started coverage on Waste Connections in a report on Friday, March 13th. They issued an “outperform” rating and a $199.00 price objective for the company. Finally, Weiss Ratings lowered Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $202.84.

About Waste Connections

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.