Waste Connections (TSE:WCN) Reaches New 52-Week High – What’s Next?

Waste Connections, Inc. (TSE:WCN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$263.95 and last traded at C$263.56, with a volume of 65091 shares traded. The stock had previously closed at C$260.80.

Wall Street Analyst Weigh In

WCN has been the subject of several research reports. Scotiabank upgraded shares of Waste Connections to a “hold” rating in a research report on Friday, October 4th. ATB Capital lifted their price target on Waste Connections from C$255.00 to C$260.00 in a research note on Friday, October 25th. Finally, Eight Capital set a C$270.00 price objective on shares of Waste Connections and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$205.10.

Waste Connections Stock Up 0.5 %

The company has a current ratio of 0.70, a quick ratio of 0.74 and a debt-to-equity ratio of 100.60. The stock has a 50 day simple moving average of C$249.85 and a 200 day simple moving average of C$242.79. The firm has a market capitalization of C$68.46 billion, a PE ratio of 58.84, a PEG ratio of 2.22 and a beta of 0.72.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.426 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.39. This represents a $1.70 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, November 7th. Waste Connections’s dividend payout ratio is currently 34.37%.

Insiders Place Their Bets

In related news, Senior Officer Robert Andres Nielsen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of C$260.63, for a total transaction of C$260,625.00. Also, Director Edward E. Guillet sold 8,000 shares of Waste Connections stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$249.52, for a total transaction of C$1,996,164.00. Insiders have sold a total of 9,571 shares of company stock valued at $2,400,841 in the last quarter. Insiders own 0.21% of the company’s stock.

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.