BMO Capital Markets began coverage on shares of Waste Connections (NYSE:WCN) in a research note released on Monday morning. The brokerage issued an outperform rating and a $79.00 price objective on the business services provider’s stock.

A number of other equities research analysts have also issued reports on the company. Credit Suisse Group set a $82.00 target price on Waste Connections and gave the company an outperform rating in a research note on Tuesday, October 31st. Oppenheimer upped their target price on Waste Connections from $74.00 to $78.00 and gave the company an outperform rating in a research note on Friday, October 27th. Royal Bank of Canada upped their target price on Waste Connections from $76.00 to $80.00 and gave the company an outperform rating in a research note on Friday, October 27th. TD Securities increased their price target on Waste Connections from $73.00 to $74.00 and gave the stock a hold rating in a research note on Friday, October 27th. Finally, KeyCorp reissued a buy rating and set a $78.00 price target on shares of Waste Connections in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Waste Connections currently has an average rating of Buy and an average target price of $77.97.

Shares of Waste Connections (NYSE:WCN) opened at $70.04 on Monday. Waste Connections has a 52 week low of $51.07 and a 52 week high of $74.20. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $18,146.41, a P/E ratio of 32.83, a P/E/G ratio of 4.10 and a beta of 0.17.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Waste Connections’s revenue was up 11.2% on a year-over-year basis. equities analysts forecast that Waste Connections will post 2.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Tuesday, November 7th. This is a positive change from Waste Connections’s previous quarterly dividend of $0.12. Waste Connections’s dividend payout ratio is currently 42.42%.

In other news, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total transaction of $399,318.75. Following the completion of the sale, the chief operating officer now directly owns 101,292 shares in the company, valued at approximately $7,190,719.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Davis sold 700 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Waste Connections by 55.9% during the 2nd quarter. Vanguard Group Inc. now owns 22,501,128 shares of the business services provider’s stock worth $1,449,523,000 after buying an additional 8,068,453 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Waste Connections by 59.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,757,442 shares of the business services provider’s stock worth $757,414,000 after buying an additional 4,380,232 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Waste Connections by 59.9% during the 2nd quarter. Royal Bank of Canada now owns 10,043,896 shares of the business services provider’s stock worth $647,028,000 after buying an additional 3,762,212 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Waste Connections by 36.9% in the 2nd quarter. Wells Fargo & Company MN now owns 7,286,764 shares of the business services provider’s stock valued at $469,413,000 after purchasing an additional 1,965,851 shares in the last quarter. Finally, Maverick Capital Ltd. increased its holdings in Waste Connections by 8.3% in the 2nd quarter. Maverick Capital Ltd. now owns 5,537,682 shares of the business services provider’s stock valued at $356,737,000 after purchasing an additional 426,642 shares in the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.

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About Waste Connections

Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.

Analyst Recommendations for Waste Connections (NYSE:WCN)

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