Waste Connections (NYSE:WCN) Stock: Insider Derek Tan Sells 1,000 Shares

Waste Connections, Inc. (NYSE:WCN) CAO Derek Tan sold 1,000 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $186.77, for a total value of $186,770.00. Following the sale, the chief accounting officer directly owned 404 shares of the company’s stock, valued at approximately $75,455.08. This trade represents a 71.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Waste Connections Stock Performance

Waste Connections stock opened at $181.68 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.67 and a current ratio of 0.67. Waste Connections, Inc. has a one year low of $146.89 and a one year high of $187.35. The stock’s 50 day moving average price is $163.05 and its 200 day moving average price is $163.43. The firm has a market capitalization of $45.52 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 3.29 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. As a group, sell-side analysts expect that Waste Connections, Inc. will post 5.70 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.3850 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.8%. Waste Connections’s dividend payout ratio is 31.32%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WCN shares. Citigroup reaffirmed a “neutral” rating and set a $192.00 target price (up from $175.00) on shares of Waste Connections in a research note on Friday, October 23rd. JPMorgan Chase & Co. lowered their target price 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. Morgan Stanley restated an “overweight” rating and set a $200.00 price target (up from $195.00) on shares of Waste Connections in a research report on Friday, October 23rd. 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. Finally, Wells Fargo & Company increased their price objective on shares of Waste Connections from $187.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. One equities 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. Based on data from MarketBeat.com, Waste Connections has an average rating of “Moderate Buy” and a consensus target price of $203.22.

Hedge Funds Weigh In On Waste Connections

A number of hedge funds have recently added to or reduced their stakes in WCN. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Waste Connections in the third quarter valued at approximately $283,000. Vise Technologies Inc. raised its stake in shares of Waste Connections by 9.7% in the third quarter. Vise Technologies Inc. now owns 12,186 shares of the business services provider’s stock valued at $1,876,000 after purchasing an additional 1,082 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in shares of Waste Connections by 4.3% during the 3rd quarter. Cidel Asset Management Inc. now owns 206,617 shares of the business services provider’s stock worth $31,883,000 after acquiring an additional 8,526 shares during the period. MGO One Seven LLC raised its position in Waste Connections by 22.7% in the third quarter. MGO One Seven LLC now owns 13,045 shares of the business services provider’s stock worth $2,008,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Aprio Wealth Management LLC raised its position in Waste Connections by 35.4% in the third quarter. Aprio Wealth Management LLC now owns 2,586 shares of the business services provider’s stock worth $398,000 after purchasing an additional 676 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

About Waste Connections

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.