Philip Rivard Sells 2,300 Shares of Waste Connections, Inc. (NYSE:WCN) Stock

Waste Connections, Inc. (NYSE:WCN) SVP Philip Rivard sold 2,300 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the sale, the senior vice president now owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Waste Connections Price Performance

WCN stock traded up $1.63 during midday trading on Wednesday, hitting $179.29. The company’s stock had a trading volume of 946,802 shares, compared to its average volume of 913,719. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections, Inc. has a 12 month low of $126.12 and a 12 month high of $182.99. The company has a 50 day moving average of $174.34 and a two-hundred day moving average of $168.34. The firm has a market capitalization of $46.26 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72.

Waste Connections (NYSE:WCN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. Waste Connections’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. On average, analysts expect that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.64%. Waste Connections’s payout ratio is 37.01%.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after buying an additional 86 shares in the last quarter. OFI Invest Asset Management bought a new stake in Waste Connections in the first quarter worth $32,000. Pathway Financial Advisers LLC purchased a new stake in Waste Connections during the first quarter valued at $43,000. Signature Resources Capital Management LLC bought a new position in Waste Connections during the second quarter valued at $45,000. Finally, Rational Advisors LLC purchased a new position in shares of Waste Connections in the 1st quarter worth $53,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WCN has been the subject of several research reports. TD Cowen upped their price target on shares of Waste Connections from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Truist Financial increased their price target on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. CIBC boosted their price objective on shares of Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research report on Friday, July 26th. Raymond James upped their price objective on Waste Connections from $190.00 to $207.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.28.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.