Waste Connections, Inc. (NYSE:WCN) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Waste Connections has a consensus analyst rating of “Buy” from 22 brokerages, with an average 12-month price target of $203.35.
• The company reported Q1 EPS of $1.23, beating estimates, while revenue rose 6.4% year over year to $2.33 billion; analysts expect $5.50 EPS for the full fiscal year.
• Waste Connections announced a quarterly dividend of $0.35 per share and also saw mixed insider activity, including a CEO purchase of 50,000 shares after an executive sale earlier in the month.

Shares of Waste Connections, Inc. (NYSE:WCN - Get Free Report) have received an average recommendation of "Buy" from the twenty-two brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $203.35.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $212.00 price objective on Waste Connections in a research report on Friday, February 13th. Scotiabank set a $197.00 price objective on Waste Connections and gave the stock a "sector outperform" rating in a research report on Friday, February 13th. Barclays set a $180.00 price objective on Waste Connections and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. TD Cowen reduced their price objective on Waste Connections from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Finally, Oppenheimer reiterated an "outperform" rating and set a $205.00 price objective (down from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd.

Waste Connections Stock Performance

Shares of NYSE:WCN opened at $157.68 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.69 and a quick ratio of 0.69. The business's 50 day moving average price is $161.07 and its 200-day moving average price is $167.04. The firm has a market capitalization of $40.25 billion, a PE ratio of 38.46, a P/E/G ratio of 2.82 and a beta of 0.55. Waste Connections has a 1 year low of $148.84 and a 1 year high of $198.00.

Waste Connections (NYSE:WCN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.04. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the business posted $1.13 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that Waste Connections will post 5.5 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Wednesday, May 6th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections's dividend payout ratio (DPR) is presently 34.15%.

Insider Buying and Selling

In other Waste Connections news, SVP Eric Hansen sold 6,000 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $164.82, for a total transaction of $988,920.00. Following the completion of the sale, the senior vice president owned 13,350 shares of the company's stock, valued at $2,200,347. This trade represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the purchase, the chief executive officer owned 301,017 shares of the company's stock, valued at $45,826,828.08. The trade was a 19.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waste Connections

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Waste Connections by 2.3% during the third quarter. Vanguard Group Inc. now owns 31,585,284 shares of the business services provider's stock worth $5,552,682,000 after acquiring an additional 717,440 shares during the last quarter. Royal Bank of Canada increased its stake in Waste Connections by 0.9% during the first quarter. Royal Bank of Canada now owns 12,210,661 shares of the business services provider's stock worth $1,983,500,000 after acquiring an additional 106,763 shares during the last quarter. Capital International Investors increased its stake in Waste Connections by 28.2% during the fourth quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after acquiring an additional 1,420,921 shares during the last quarter. Mackenzie Financial Corp increased its stake in Waste Connections by 17.6% during the third 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Waste Connections by 37.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock worth $835,370,000 after acquiring an additional 1,289,042 shares during the last quarter. Institutional investors and hedge funds 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.

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