Waste Connections (NYSE:WCN) Price Target Raised to $187.00

Waste Connections (NYSE:WCN) had its target price hoisted by Barclays from $180.00 to $187.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. Barclays currently has an equal weight rating on the business services provider’s stock.

WCN has been the topic of several other research reports. TD Cowen restated a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research report on Friday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. BMO Capital Markets reissued an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Citigroup raised their target price on Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. cut their price target on Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Waste Connections presently has an average rating of “Moderate Buy” and a consensus price target of $202.42.

Waste Connections Trading Down 3.6%

Shares of NYSE:WCN opened at $166.59 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections has a 12-month low of $146.89 and a 12-month high of $191.00. The business has a 50 day moving average of $162.34 and a two-hundred day moving average of $163.22. The company has a market capitalization of $42.04 billion, a PE ratio of 40.14, a PEG ratio of 2.97 and a beta of 0.49.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.29 EPS. As a group, analysts forecast that Waste Connections will post 5.63 EPS for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.8%. Waste Connections’s dividend payout ratio is currently 33.73%.

Insider Activity at Waste Connections

In related news, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the purchase, the chief executive officer directly owned 301,017 shares of the company’s stock, valued at approximately $45,826,828.08. This trade represents a 19.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Patrick James Shea sold 7,500 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the transaction, the vice president owned 19,737 shares of the company’s stock, valued at approximately $3,084,103.62. This trade represents a 27.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 11,811 shares of company stock valued at $1,887,572. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waste Connections

Several institutional investors have recently bought and sold shares of WCN. Family Wealth Partners LLC acquired a new position in shares of Waste Connections during the second quarter valued at approximately $204,000. Revolve Wealth Partners LLC acquired a new stake in shares of Waste Connections in the second quarter worth approximately $433,000. Sapient Capital LLC acquired a new stake in shares of Waste Connections in the second quarter worth approximately $390,000. Legacy Wealth Asset Management LLC increased its position in shares of Waste Connections by 68.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 15,966 shares of the business services provider’s stock worth $2,661,000 after purchasing an additional 6,470 shares in the last quarter. Finally, LifeGoal Investments LLC purchased a new stake in shares of Waste Connections during the second quarter worth approximately $274,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.