Waste Connections (NYSE:WCN) Price Target Raised to $205.00

Waste Connections (NYSE:WCN) had its price target lifted by Deutsche Bank Aktiengesellschaft from $191.00 to $205.00 in a research note issued to investors on Friday. They currently have a buy rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $207.00 target price (up from $184.00) on shares of Waste Connections in a report on Friday. JPMorgan Chase & Co. cut their price target on shares of Waste Connections from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Scotiabank reiterated an “outperform” rating and set a $201.00 price target on shares of Waste Connections in a research note on Friday. Wells Fargo & Company increased their price target on shares of Waste Connections from $187.00 to $211.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, TD Cowen reissued a “buy” rating and issued a $215.00 price objective (up from $210.00) on shares of Waste Connections in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.39.

Waste Connections Stock Down 0.1%

NYSE:WCN opened at $186.48 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average is $161.75 and its two-hundred day moving average is $161.71. Waste Connections has a 52 week low of $146.89 and a 52 week high of $187.27. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 3.35 and a beta of 0.49.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The firm’s revenue was up 23.8% compared to the same quarter last year. Research analysts anticipate that Waste Connections will post 5.70 EPS for the current year.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be paid a $0.3850 dividend. This is an increase 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 payout ratio is presently 31.32%.

Insider Activity at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert Cloninger sold 2,811 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the sale, the senior vice president directly owned 11,666 shares in the company, valued at approximately $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI grew its stake in shares of Waste Connections by 37.4% during the third quarter. Citizens Financial Group Inc. RI now owns 8,320 shares of the business services provider’s stock worth $1,281,000 after purchasing an additional 2,266 shares in the last quarter. Middleton & Co. Inc. MA increased its holdings in Waste Connections by 11.9% in the third quarter. Middleton & Co. Inc. MA now owns 46,856 shares of the business services provider’s stock valued at $7,213,000 after buying an additional 4,992 shares during the last quarter. Carderock Capital Management Inc. raised its stake in Waste Connections by 1.3% in the third quarter. Carderock Capital Management Inc. now owns 35,474 shares of the business services provider’s stock valued at $5,461,000 after buying an additional 447 shares in the last quarter. MBL Wealth LLC raised its stake in Waste Connections by 93.6% in the third quarter. MBL Wealth LLC now owns 3,384 shares of the business services provider’s stock valued at $521,000 after buying an additional 1,636 shares in the last quarter. Finally, Lmcg Investments LLC raised its stake in Waste Connections by 11.4% in the third quarter. Lmcg Investments LLC now owns 62,580 shares of the business services provider’s stock valued at $9,633,000 after buying an additional 6,388 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

More Waste Connections News

Here are the key news stories impacting Waste Connections this week:

• Positive Sentiment: Analysts raised price targets: Deutsche Bank lifted its target from $191 to $205 and maintained a “buy” rating. Wells Fargo raised its target from $187 to $211 and upgraded its stance to “overweight,” while Scotiabank increased its target from $193 to $201 and retained a “sector outperform” rating. The targets imply approximately 8% to 13% upside from the referenced share price.
• Positive Sentiment: Third-quarter results exceeded expectations: Waste Connections reported adjusted earnings of $1.58 per share, up from $1.44 a year earlier and ahead of the $1.52 consensus estimate. Revenue rose 23.8% year over year to $2.64 billion, also surpassing analyst expectations. Waste Connections Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management raised its outlook as landfill volumes improved, supporting expectations for continued revenue and profit growth. Acquisitions are also contributing to earnings growth and expanding the company’s disposal-services platform. Waste Connections Raises Outlook as Landfill Volumes Improve
• Positive Sentiment: Dividend increased 10%: Waste Connections raised its quarterly dividend to $0.385 per share from $0.35, equivalent to $1.54 annually. The increase signals confidence in cash flow and enhances shareholder returns. Waste Connections Raised Its Dividend 10%

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.