CIBC Increases Waste Connections (NYSE:WCN) Price Target to $193.00

Waste Connections (NYSE:WCN) had its price target lifted by CIBC from $191.00 to $193.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an outperformer rating on the business services provider’s stock.

Other research analysts have also issued reports about the company. Raymond James increased their price objective on Waste Connections from $190.00 to $207.00 and gave the stock a strong-buy rating in a research report on Monday, July 22nd. StockNews.com upgraded Waste Connections from a hold rating to a buy rating in a report on Saturday, May 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Connections in a report on Thursday, May 23rd. They issued a buy rating and a $189.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Waste Connections from $195.00 to $199.00 and gave the stock an outperform rating in a research note on Friday. Finally, BMO Capital Markets boosted their price target on shares of Waste Connections from $182.00 to $186.00 and gave the company an outperform rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $187.28.

Waste Connections Trading Up 0.2 %

Shares of NYSE:WCN opened at $175.93 on Friday. The business has a 50-day moving average price of $172.80 and a 200-day moving average price of $167.12. The stock has a market cap of $45.39 billion, a price-to-earnings ratio of 57.12, a PEG ratio of 2.87 and a beta of 0.72. 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 has a 52-week low of $126.12 and a 52-week high of $182.99.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that Waste Connections will post 4.81 EPS for the current year.

Waste Connections Dividend Announcement

The business 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Wednesday, August 7th. Waste Connections’s dividend payout ratio is presently 37.01%.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $169.00, for a total transaction of $169,000.00. Following the sale, the senior vice president now owns 5,321 shares of the company’s stock, valued at $899,249. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Waste Connections news, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $167.59, for a total transaction of $251,385.00. Following the completion of the transaction, the director now owns 8,004 shares in the company, valued at approximately $1,341,390.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $169.00, for a total transaction of $169,000.00. Following the transaction, the senior vice president now directly owns 5,321 shares of the company’s stock, valued at $899,249. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,500 shares of company stock worth $752,385. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Waste Connections

Several large investors have recently bought and sold shares of WCN. Hexagon Capital Partners LLC grew its position in shares of Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 86 shares during the period. OFI Invest Asset Management acquired a new position in shares of Waste Connections in the 1st quarter valued at about $32,000. Pathway Financial Advisers LLC purchased a new stake in Waste Connections during the first quarter worth approximately $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections during the 2nd quarter worth $45,000. Finally, Rational Advisors LLC acquired a new position in shares of Waste Connections during the first quarter worth about $53,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Company Profile

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.