Waste Connections, Inc. (NYSE:WCN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Waste Connections has a consensus analyst rating of “Moderate Buy” from 21 brokerages, with 14 buy ratings and 3 strong buy ratings. The average 1-year price target is about $202.84.
• The company reported better-than-expected quarterly earnings of $1.23 per share, beating estimates by $0.04, though revenue of $2.33 billion came in below Wall Street expectations. Revenue still rose 6.4% year over year.
• Recent insider activity was mixed: VP James Little sold shares, while CEO Ronald J. Mittelstaedt bought 50,000 shares. The stock also pays a quarterly dividend of $0.35, for an annualized yield of about 0.8%.

Shares of Waste Connections, Inc. (NYSE:WCN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $202.8421.

Several equities analysts recently commented on the stock. Barclays set a $180.00 target price on shares of Waste Connections and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. The Goldman Sachs Group restated a "buy" rating and set a $211.00 price objective on shares of Waste Connections in a report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Waste Connections from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th.

Insider Buying and Selling

In related news, VP James Little sold 2,605 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $163.98, for a total value of $427,167.90. Following the completion of the transaction, the vice president directly owned 34,395 shares in the company, valued at approximately $5,640,092.10. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ronald J. Mittelstaedt bought 50,000 shares of Waste Connections stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $152.24 per share, with a total value of $7,612,000.00. Following the completion of the transaction, the chief executive officer owned 301,017 shares of the company's stock, valued at $45,826,828.08. This trade represents a 19.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 17,605 shares of company stock worth $2,822,923. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waste Connections

Several institutional investors and hedge funds have recently bought and sold shares of the business. City Holding Co. bought a new position in shares of Waste Connections during the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in Waste Connections in the third quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Waste Connections during the third quarter worth about $30,000. Whipplewood Advisors LLC boosted its holdings in Waste Connections by 1,166.7% during the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider's stock valued at $31,000 after purchasing an additional 175 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in shares of Waste Connections by 346.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider's stock valued at $31,000 after purchasing an additional 135 shares during the period. Institutional investors own 86.09% of the company's stock.

Waste Connections Stock Performance

Shares of NYSE WCN opened at $171.69 on Thursday. Waste Connections has a 12 month low of $146.89 and a 12 month high of $191.91. The company has a market cap of $43.56 billion, a P/E ratio of 41.88, a P/E/G ratio of 3.07 and a beta of 0.49. The business's 50 day moving average is $157.99 and its two-hundred day moving average is $163.74. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The company had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.50 billion. Waste Connections had a return on equity of 16.49% and a net margin of 10.97%.Waste Connections's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. On average, equities analysts expect that Waste Connections will post 5.49 EPS for the current year.

Waste Connections Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.8%. Waste Connections's dividend payout ratio is 34.15%.

About Waste Connections

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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