Brokerages Set Waste Connections, Inc. (NYSE:WCN) PT at $208.37

Shares of Waste Connections, Inc. (NYSE:WCN) have received a consensus recommendation of “Buy” from the twenty-five analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, sixteen have issued a buy recommendation and five have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $208.3684.

A number of brokerages have recently issued reports on WCN. Weiss Ratings restated a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Raymond James Financial set a $213.00 price target on shares of Waste Connections and gave the stock a “strong-buy” rating in a research note on Monday, October 6th. Barclays reissued a “negative” rating on shares of Waste Connections in a research report on Thursday, October 23rd. Morgan Stanley restated an “overweight” rating and issued a $220.00 price objective (up from $215.00) on shares of Waste Connections in a research note on Wednesday, December 17th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Waste Connections in a report on Thursday, October 23rd.

Insiders Place Their Bets

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the transaction, the director directly owned 14,883 shares in the company, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Several hedge funds have recently modified their holdings of WCN. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections in the 3rd quarter worth $26,000. Asset Dedication LLC purchased a new position in Waste Connections during the second quarter worth about $28,000. KERR FINANCIAL PLANNING Corp purchased a new position in Waste Connections during the third quarter worth about $30,000. Greykasell Wealth Strategies Inc. lifted its position in Waste Connections by 555.2% in the third quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 161 shares during the period. Finally, AlphaCore Capital LLC purchased a new stake in Waste Connections in the 2nd quarter valued at approximately $39,000. 86.09% of the stock is owned by institutional investors and hedge funds.

Waste Connections Stock Up 0.2%

WCN opened at $178.13 on Friday. Waste Connections has a one year low of $163.27 and a one year high of $201.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $45.55 billion, a P/E ratio of 74.22, a price-to-earnings-growth ratio of 3.53 and a beta of 0.62. The business’s 50-day simple moving average is $172.74 and its 200-day simple moving average is $178.48.

Waste Connections (NYSE:WCN) last released its quarterly earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 EPS. Analysts anticipate that Waste Connections will post 5.28 EPS for the current year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.40 annualized dividend and a yield of 0.8%. This is a boost from Waste Connections’s previous quarterly dividend of $0.32. Waste Connections’s dividend payout ratio (DPR) is currently 58.33%.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.