Waste Connections (NYSE:WCN) VP Sells $370,440.00 in Stock

Key Points

• Insider sale: Waste Connections VP James Little sold 2,000 shares for $370,440, reducing his direct ownership by 5.81% to 32,395 shares.
• Strong operating results: The company reported quarterly earnings of $1.58 per share, exceeding estimates, while revenue rose 23.8% year over year to $2.64 billion.
• Positive investor outlook: Waste Connections raised its quarterly dividend to $0.385 and maintains a “Moderate Buy” consensus rating, with analysts’ average price target at $203.22.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) VP James Little sold 2,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $185.22, for a total value of $370,440.00. Following the completion of the transaction, the vice president directly owned 32,395 shares in the company, valued at approximately $6,000,201.90. This represents a 5.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Waste Connections Trading Up 1.1%

Waste Connections stock traded up $1.92 during trading hours on Thursday, reaching $181.68. The company had a trading volume of 1,622,708 shares, compared to its average volume of 1,595,255. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a 12-month low of $146.89 and a 12-month high of $187.35. The firm has a market cap of $45.52 billion, a price-to-earnings ratio of 40.64, a P/E/G ratio of 3.35 and a beta of 0.49. The company has a 50-day moving average price of $162.80 and a 200 day moving average price of $163.35.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.06. Waste Connections had a return on equity of 17.76% and a net margin of 11.40%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.60 billion. The firm's revenue was up 23.8% on a year-over-year basis. Equities analysts forecast that Waste Connections, Inc. will post 5.70 earnings per share for the current year.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be issued a $0.3850 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. This is a boost from Waste Connections's previous quarterly dividend of $0.35. Waste Connections's payout ratio is presently 31.32%.

Hedge Funds Weigh In On Waste Connections

Institutional investors and hedge funds have recently bought and sold shares of the company. XXEC Inc. purchased a new stake in Waste Connections during the 2nd quarter worth about $164,870,000. BlackRock Inc. purchased a new stake in Waste Connections during the second quarter worth approximately $1,061,947,000. The Manufacturers Life Insurance Company purchased a new position in Waste Connections in the second quarter valued at approximately $589,671,000. Bank of America Corp DE purchased a new position in Waste Connections in the second quarter valued at approximately $510,526,000. Finally, Wellington Management Group LLP acquired a new stake in Waste Connections during the second quarter worth approximately $477,944,000. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCN has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $221.00 price target (up from $218.00) on shares of Waste Connections in a report on Friday, October 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $206.00 price target on shares of Waste Connections in a research report on Friday, October 23rd. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $207.00 target price (up from $184.00) on shares of Waste Connections in a report on Friday, October 23rd. Morgan Stanley reissued an "overweight" rating and set a $200.00 price target (up from $195.00) on shares of Waste Connections in a research report on Friday, October 23rd. Finally, Wolfe Research started coverage on shares of Waste Connections in a research report on Tuesday, September 15th. They set an "outperform" rating and a $204.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $203.22.

Waste Connections Company Profile

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and construction customers, offering scheduled and on-demand collection as well as waste management solutions tailored to municipalities and businesses.

Its operations include local collection fleets, transfer stations, recycling and resource-recovery facilities, and landfills. Waste Connections also provides non-hazardous oilfield waste services, including the collection, transportation, treatment and disposal of waste generated by energy-production activities.

Founded in 1997, Waste Connections has grown through a combination of internal development and acquisitions.

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