Waste Connections (NYSE:WCN) SVP Robert Michael Cloninger Sells 2,811 Shares

Waste Connections, Inc. (NYSE:WCN) SVP Robert Michael Cloninger sold 2,811 shares of the company’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 value of $480,737.22. Following the completion of the transaction, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. This trade represents a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Waste Connections Stock Down 3.6%

Waste Connections stock opened at $166.59 on Friday. The firm has a market cap of $42.04 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 2.97 and a beta of 0.49. The stock has a fifty day simple moving average of $162.34 and a two-hundred day simple moving average of $163.22. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Equities analysts predict that Waste Connections, Inc. will post 5.63 EPS for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s payout ratio is 33.73%.

Institutional Investors Weigh In On Waste Connections

A number of large investors have recently made changes to their positions in WCN. Family Wealth Partners LLC bought a new position in shares of Waste Connections in the 2nd quarter worth approximately $204,000. Revolve Wealth Partners LLC bought a new stake in Waste Connections during the second quarter valued at approximately $433,000. Sapient Capital LLC purchased a new stake in Waste Connections during the second quarter valued at approximately $390,000. Legacy Wealth Asset Management LLC increased 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 buying an additional 6,470 shares during the last quarter. Finally, LifeGoal Investments LLC bought a new position in Waste Connections in the second quarter worth approximately $274,000. 86.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WCN. BMO Capital Markets reaffirmed an “outperform” rating and set a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $199.00 price objective on shares of Waste Connections in a research report on Friday, July 24th. Weiss Ratings cut shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.42.

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.