Waste Connections Inc (NYSE:WCN) CEO Ronald J. Mittelstaedt sold 45,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $73.32, for a total transaction of $3,299,400.00. Following the sale, the chief executive officer now owns 100,462 shares of the company’s stock, valued at $7,365,873.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Waste Connections Inc (NYSE:WCN) traded up $0.89 during mid-day trading on Friday, reaching $73.68. 803,186 shares of the company’s stock traded hands, compared to its average volume of 1,008,342. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $19,192.22, a price-to-earnings ratio of 33.75, a PEG ratio of 2.68 and a beta of 0.19. Waste Connections Inc has a one year low of $56.81 and a one year high of $74.20.
Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 14th. The business services provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Waste Connections had a net margin of 12.46% and a return on equity of 9.63%. Waste Connections’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 earnings per share. sell-side analysts anticipate that Waste Connections Inc will post 2.52 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in Waste Connections during the third quarter worth approximately $103,000. Cerebellum GP LLC acquired a new stake in Waste Connections during the fourth quarter worth approximately $125,000. SG Americas Securities LLC acquired a new stake in Waste Connections during the fourth quarter worth approximately $194,000. Timber Hill LLC acquired a new stake in Waste Connections during the fourth quarter worth approximately $206,000. Finally, Advisor Partners LLC acquired a new stake in Waste Connections during the fourth quarter worth approximately $216,000. 82.44% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on WCN shares. Zacks Investment Research cut shares of Waste Connections from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. BMO Capital Markets started coverage on shares of Waste Connections in a research report on Monday, December 11th. They set an “outperform” rating and a $79.00 price objective for the company. Credit Suisse Group set a $80.00 price objective on shares of Waste Connections and gave the stock a “buy” rating in a research report on Friday, February 16th. Bank of America started coverage on shares of Waste Connections in a research report on Thursday, December 28th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective on shares of Waste Connections in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $78.22.
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Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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