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Waste Connections, Inc. (NYSE:WCN) Receives Average Recommendation of "Buy" From Analysts

Defense World · Oct 3, 2022 04:31

Shares of Waste Connections, Inc. (NYSE:WCN – Get Rating) have earned a consensus recommendation of "Buy" from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $148.88.

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Waste Connections from $145.00 to $154.00 in a research report on Tuesday, August 9th. Atb Cap Markets raised shares of Waste Connections from a "sector perform" rating to an "outperform" rating in a research report on Thursday, August 4th. Oppenheimer set a $135.00 target price on shares of Waste Connections in a research report on Tuesday, July 19th. BMO Capital Markets increased their target price on shares of Waste Connections from $143.00 to $151.00 and gave the company an "outperform" rating in a research report on Thursday, August 4th. Finally, Raymond James increased their target price on shares of Waste Connections from $146.00 to $155.00 and gave the company a "strong-buy" rating in a research report on Friday, August 5th.

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Waste Connections Price Performance

Waste Connections stock opened at $135.13 on Monday. The firm has a market cap of $34.75 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 2.89 and a beta of 0.69. Waste Connections has a 52-week low of $113.50 and a 52-week high of $148.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.82. The company's 50 day moving average is $139.86 and its two-hundred day moving average is $133.24.

Waste Connections (NYSE:WCN – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The business services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.05. Waste Connections had a net margin of 10.25% and a return on equity of 13.38%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. On average, research analysts expect that Waste Connections will post 3.75 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Wednesday, August 17th. Waste Connections's dividend payout ratio (DPR) is presently 34.85%.

Insider Activity

In other news, Director William J. Razzouk sold 4,073 shares of Waste Connections stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $140.03, for a total value of $570,342.19. Following the sale, the director now owns 4,016 shares of the company's stock, valued at $562,360.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director William J. Razzouk sold 4,073 shares of Waste Connections stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $140.03, for a total value of $570,342.19. Following the sale, the director now owns 4,016 shares of the company's stock, valued at $562,360.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick James Shea sold 7,000 shares of Waste Connections stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $145.26, for a total transaction of $1,016,820.00. Following the completion of the sale, the vice president now directly owns 12,813 shares in the company, valued at approximately $1,861,216.38. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Institutional Trading of Waste Connections

A number of institutional investors have recently added to or reduced their stakes in WCN. New Millennium Group LLC purchased a new stake in Waste Connections during the second quarter worth about $32,000. Venture Visionary Partners LLC purchased a new stake in Waste Connections during the second quarter worth about $35,000. SeaCrest Wealth Management LLC purchased a new stake in Waste Connections during the second quarter worth about $43,000. Pacifica Partners Inc. boosted its holdings in Waste Connections by 49.0% during the first quarter. Pacifica Partners Inc. now owns 365 shares of the business services provider's stock worth $46,000 after buying an additional 120 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Waste Connections during the second quarter worth about $46,000. Hedge funds and other institutional investors own 79.33% of the company's stock.

About Waste Connections

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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.