Waste Connections (NYSE:WCN) Sets New 12-Month High at $105.17

Waste Connections Inc (NYSE:WCN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $105.17 and last traded at $102.75, with a volume of 550442 shares changing hands. The stock had previously closed at $104.67.

Several equities analysts have recently weighed in on WCN shares. Deutsche Bank raised their price objective on shares of Waste Connections from $106.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Zacks Investment Research lowered shares of Waste Connections from a “buy” rating to a “hold” rating and set a $113.00 price objective for the company. in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of Waste Connections from $100.00 to $111.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. KeyCorp raised their price objective on shares of Waste Connections from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group started coverage on shares of Waste Connections in a research report on Wednesday, November 27th. They set a “buy” rating and a $106.00 price objective for the company. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $105.35.

The firm’s fifty day simple moving average is $97.36 and its 200 day simple moving average is $92.51. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 48.01, a PEG ratio of 3.75 and a beta of 0.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.12 and a quick ratio of 1.12.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, February 12th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Waste Connections had a net margin of 10.52% and a return on equity of 10.66%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts forecast that Waste Connections Inc will post 2.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 27th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.72%. This is a boost from Waste Connections’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, February 26th. Waste Connections’s dividend payout ratio (DPR) is presently 27.21%.

In other Waste Connections news, SVP Eric Hansen sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $104.28, for a total value of $521,400.00. Following the completion of the transaction, the senior vice president now directly owns 6,867 shares in the company, valued at $716,090.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital International Investors lifted its position in shares of Waste Connections by 2.1% in the fourth quarter. Capital International Investors now owns 10,257,116 shares of the business services provider’s stock worth $931,244,000 after purchasing an additional 210,584 shares in the last quarter. Cidel Asset Management Inc. lifted its position in shares of Waste Connections by 2.8% in the fourth quarter. Cidel Asset Management Inc. now owns 247,761 shares of the business services provider’s stock worth $22,536,000 after purchasing an additional 6,767 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Waste Connections by 96.5% in the fourth quarter. Intact Investment Management Inc. now owns 300,516 shares of the business services provider’s stock worth $35,368,000 after purchasing an additional 147,600 shares in the last quarter. Standard Life Aberdeen plc lifted its position in shares of Waste Connections by 1.6% in the fourth quarter. Standard Life Aberdeen plc now owns 27,168 shares of the business services provider’s stock worth $2,467,000 after purchasing an additional 434 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Waste Connections by 2.4% in the fourth quarter. Alberta Investment Management Corp now owns 252,534 shares of the business services provider’s stock worth $22,970,000 after purchasing an additional 6,000 shares in the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.

Waste Connections Company Profile (NYSE:WCN)

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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