Waste Connections (NYSE:WCN) Research Coverage Started at BNP Paribas Exane

BNP Paribas Exane assumed coverage on shares of Waste Connections (NYSE:WCN) in a report published on Tuesday, Marketbeat reports. The brokerage issued an outperform rating on the business services provider’s stock.

WCN has been the topic of a number of other research reports. Morgan Stanley reissued an “overweight” rating and issued a $220.00 target price (up previously from $215.00) on shares of Waste Connections in a research note on Wednesday, December 17th. Sanford C. Bernstein restated an “outperform” rating and set a $205.00 price objective (up previously from $200.00) on shares of Waste Connections in a research note on Monday. Raymond James Financial set a $213.00 target price on Waste Connections and gave the company a “strong-buy” rating in a research note on Monday, October 6th. UBS Group set a $205.00 target price on Waste Connections in a report on Monday. Finally, National Bankshares decreased their price target on Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $208.79.

Waste Connections Stock Performance

Waste Connections stock opened at $168.23 on Tuesday. The company has a market cap of $43.02 billion, a price-to-earnings ratio of 70.09, a price-to-earnings-growth ratio of 3.05 and a beta of 0.63. Waste Connections has a 12 month low of $163.27 and a 12 month high of $201.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50-day moving average is $172.72 and its 200-day moving average is $177.66.

Waste Connections (NYSE:WCN) last issued its 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. Waste Connections had a return on equity of 16.07% and a net margin of 6.65%.The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $1.35 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that Waste Connections will post 5.28 earnings per share for the current year.

Waste Connections Increases Dividend

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

Insider Buying and Selling at Waste Connections

In other Waste Connections news, Director Edward E. Guillet sold 9,000 shares of the stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the transaction, the director directly owned 14,883 shares in the company, valued at $2,596,190.52. This represents a 37.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently modified their holdings of WCN. Norges Bank acquired a new position in Waste Connections in the second quarter worth about $755,938,000. Wellington Management Group LLP lifted its holdings in Waste Connections by 39.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider’s stock worth $783,218,000 after buying an additional 1,264,150 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Waste Connections by 17.6% in the 3rd quarter. Mackenzie Financial Corp now owns 6,136,218 shares of the business services provider’s stock worth $1,078,536,000 after acquiring an additional 918,245 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Waste Connections in the 2nd quarter valued at approximately $140,935,000. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Waste Connections by 46.6% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock valued at $419,451,000 after acquiring an additional 732,718 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

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.