Waste Connections, Inc. (NYSE:WCN) insider James Little sold 3,000 shares of Waste Connections stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $64.81, for a total value of $194,430.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Waste Connections, Inc. (NYSE:WCN) traded up 0.08% during mid-day trading on Thursday, reaching $65.40. The company had a trading volume of 273,151 shares. The stock has a 50-day moving average of $64.96 and a 200 day moving average of $60.17. Waste Connections, Inc. has a 12-month low of $47.81 and a 12-month high of $67.14. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of 55.61 and a beta of 0.23.
Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Waste Connections had a return on equity of 9.19% and a net margin of 7.11%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 61.6% compared to the same quarter last year. On average, analysts expect that Waste Connections, Inc. will post $2.13 EPS for the current year.
Waste Connections announced that its Board of Directors has approved a share repurchase program on Wednesday, August 2nd that authorizes the company to repurchase 13,180,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th will be given a $0.12 dividend. The ex-dividend date is Friday, August 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. Waste Connections’s dividend payout ratio is currently 40.56%.
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Several hedge funds have recently modified their holdings of the company. Spirit of America Management Corp NY bought a new stake in shares of Waste Connections during the first quarter worth approximately $110,000. Independent Portfolio Consultants Inc. raised its position in shares of Waste Connections by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,833 shares of the business services provider’s stock worth $118,000 after buying an additional 168 shares during the last quarter. US Bancorp DE raised its position in shares of Waste Connections by 14.3% in the second quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock worth $140,000 after buying an additional 271 shares during the last quarter. Creative Planning raised its position in shares of Waste Connections by 223.5% in the second quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after buying an additional 1,656 shares during the last quarter. Finally, Capital One National Association purchased a new position in shares of Waste Connections during the first quarter worth $208,000. 58.20% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the company. BidaskClub downgraded Waste Connections from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank Of Canada lifted their target price on Waste Connections from $74.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. lifted their target price on Waste Connections from $74.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 27th. Barclays PLC set a $70.00 target price on Waste Connections and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Monday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $68.95.
Waste Connections Company Profile
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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