Waste Connections (NYSE:WCN) Stock: Insider James Little Sells 2,000 Shares

Waste Connections, Inc. (NYSE:WCN) VP James Little sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $185.22, for a total value of $370,440.00. Following the transaction, the vice president owned 32,395 shares in the company, valued at $6,000,201.90. This represents a 5.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Waste Connections Stock Up 1.1%

Shares of WCN opened at $183.93 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.20. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $188.20. The stock’s 50 day moving average is $163.36 and its two-hundred day moving average is $163.52. The firm has a market cap of $46.08 billion, a P/E ratio of 32.49, a PEG ratio of 3.33 and a beta of 0.49.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.06. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.60 billion. Waste Connections’s revenue was up 23.8% on a year-over-year basis. Analysts predict that Waste Connections, Inc. will post 5.70 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.3850 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, November 5th. Waste Connections’s dividend payout ratio (DPR) is currently 31.32%.

Institutional Investors Weigh In On Waste Connections

Institutional investors have recently modified their holdings of the company. Ascent Group LLC boosted its stake in Waste Connections by 4.1% during the 3rd quarter. Ascent Group LLC now owns 1,516 shares of the business services provider’s stock worth $233,000 after purchasing an additional 60 shares during the period. Rakuten Investment Management Inc. boosted its stake in shares of Waste Connections by 12.3% during the third quarter. Rakuten Investment Management Inc. now owns 16,520 shares of the business services provider’s stock worth $2,570,000 after buying an additional 1,808 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in shares of Waste Connections during the third quarter worth about $109,000. Putney Financial Group LLC acquired a new stake in shares of Waste Connections during the third quarter worth about $84,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Waste Connections during the third quarter worth about $283,000. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WCN has been the subject of a number of research reports. Raymond James Financial set a $189.00 target price on shares of Waste Connections in a research note on Friday, October 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $205.00 price target on shares of Waste Connections in a research note on Thursday, October 22nd. Citigroup reiterated a “neutral” rating and issued a $192.00 price objective (up from $175.00) on shares of Waste Connections in a report on Friday, October 23rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $207.00 price target (up from $184.00) on shares of Waste Connections in a research note on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waste Connections from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.22.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.