Insider Selling: Waste Connections (NYSE:WCN) SVP Sells 2,500 Shares of Stock

Key Points

• Waste Connections SVP Philip Rivard sold 2,500 shares at an average price of $166.57, generating $416,425 and reducing his position by 77.3% to 734 shares.
• The company reported quarterly EPS of $1.50, beating estimates of $1.35, while revenue rose 6.4% year over year to $2.56 billion. Shares recently traded near $168.51, with a 52-week range of $146.89 to $188.09.
• Waste Connections declared a quarterly dividend of $0.35 per share, equal to a 0.8% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $200.89.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Philip Rivard sold 2,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the transaction, the senior vice president owned 734 shares in the company, valued at $122,262.38. The trade was a 77.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Waste Connections Stock Performance

Shares of Waste Connections stock traded down $0.24 during trading on Thursday, reaching $168.51. The company's stock had a trading volume of 765,700 shares, compared to its average volume of 1,599,263. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The business's 50-day moving average price is $165.99 and its 200-day moving average price is $163.11. Waste Connections, Inc. has a 52 week low of $146.89 and a 52 week high of $188.09. The firm has a market cap of $42.39 billion, a PE ratio of 40.60, a P/E/G ratio of 2.84 and a beta of 0.48.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The business's revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that Waste Connections, Inc. will post 5.62 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's payout ratio is currently 33.73%.

Wall Street Analyst Weigh In

Several brokerages have commented on WCN. UBS Group restated a "neutral" rating and set a $176.00 price objective (up from $170.00) on shares of Waste Connections in a research report on Tuesday, August 4th. TD Cowen reaffirmed a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, July 24th. Citigroup lifted their target price on Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. The Goldman Sachs Group restated a "buy" rating and issued a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Waste Connections in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $200.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of Waste Connections in the third quarter valued at about $26,000. Transamerica Financial Advisors LLC lifted its stake in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock worth $31,000 after acquiring an additional 135 shares during the period. Group One Trading LLC bought a new stake in Waste Connections in the second quarter valued at approximately $30,000. Whipplewood Advisors LLC boosted its holdings in Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after acquiring an additional 175 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Waste Connections during the 4th quarter valued at approximately $36,000. 86.09% of the stock is owned by institutional investors and hedge funds.

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.

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