Waste Connections (NYSE:WCN) Given New $186.00 Price Target at BMO Capital Markets

Waste Connections (NYSE:WCN) had its price target raised by BMO Capital Markets from $182.00 to $186.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on WCN. Wells Fargo & Company increased their price objective on shares of Waste Connections from $170.00 to $185.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Royal Bank of Canada dropped their price objective on shares of Waste Connections from $196.00 to $195.00 and set an outperform rating on the stock in a report on Friday. Jefferies Financial Group increased their price objective on shares of Waste Connections from $195.00 to $217.00 and gave the stock a buy rating in a report on Monday, March 18th. Scotiabank raised their target price on shares of Waste Connections from $146.50 to $179.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. Finally, Citigroup raised their target price on shares of Waste Connections from $136.00 to $163.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $179.33.

Waste Connections Stock Down 1.0 %

Shares of NYSE:WCN opened at $163.53 on Friday. The stock has a market capitalization of $42.19 billion, a price-to-earnings ratio of 53.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.66. Waste Connections has a 1-year low of $126.12 and a 1-year high of $173.02. The company’s fifty day moving average is $168.22 and its two-hundred day moving average is $152.10. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.68 and a current ratio of 0.75.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Waste Connections will post 4.85 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be paid a $0.285 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $1.14 annualized dividend and a dividend yield of 0.70%. Waste Connections’s dividend payout ratio is currently 37.01%.

Insider Transactions at Waste Connections

In other news, Director Andrea E. Bertone sold 902 shares of Waste Connections stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total value of $152,591.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Waste Connections

Several hedge funds have recently made changes to their positions in WCN. Norges Bank purchased a new position in shares of Waste Connections in the fourth quarter worth approximately $592,392,000. Royal Bank of Canada increased its position in shares of Waste Connections by 20.5% in the third quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock worth $1,516,908,000 after acquiring an additional 1,920,302 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Waste Connections by 43.4% in the fourth quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after acquiring an additional 1,320,933 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Waste Connections by 57.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock worth $522,988,000 after acquiring an additional 1,281,418 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Waste Connections by 235.5% in the fourth quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock worth $172,240,000 after acquiring an additional 809,914 shares in the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Company Profile

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.