Waste Connections (NYSE:WCN) SVP Robert Michael Cloninger Sells 2,811 Shares

Key Points

• Waste Connections SVP Robert Michael Cloninger sold 2,811 shares at an average price of $171.02, generating approximately $480,737. After the sale, he retained 11,666 shares, reducing his position by 19.42%.
• Shares fell 3.6% to $166.59, while the company’s latest quarterly results exceeded expectations: adjusted earnings were $1.50 per share versus a $1.35 consensus estimate, and revenue rose 6.4% year over year to $2.56 billion.
• The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $202.42.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) SVP Robert Michael Cloninger sold 2,811 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total transaction of $480,737.22. Following the completion of the sale, the senior vice president owned 11,666 shares in the company, valued at approximately $1,995,119.32. This trade represents a 19.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Waste Connections Stock Down 3.6%

Shares of NYSE WCN traded down $6.22 on Thursday, reaching $166.59. 1,840,888 shares of the company's stock traded hands, compared to its average volume of 1,644,531. The business's 50 day simple moving average is $162.12 and its two-hundred day simple moving average is $163.21. Waste Connections, Inc. has a 12 month low of $146.89 and a 12 month high of $191.00. The company has a market cap of $42.04 billion, a price-to-earnings ratio of 40.14, a price-to-earnings-growth ratio of 2.90 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.17.

Waste Connections (NYSE:WCN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.15. Waste Connections had a return on equity of 17.31% and a net margin of 10.86%.The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the firm posted $1.29 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Connections, Inc. will post 5.63 EPS for the current fiscal year.

Waste Connections Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. City Holding Co. bought a new stake in Waste Connections in the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections during the 3rd quarter valued at about $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Waste Connections by 1,166.7% during the 1st 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. Transamerica Financial Advisors LLC grew 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. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Waste Connections in the fourth quarter worth approximately $36,000. 86.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WCN has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a research report on Friday, April 24th. Citigroup raised their price objective on shares of Waste Connections from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $208.00 target price (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of Waste Connections from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Monday, July 13th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating and set a $199.00 price target on shares of Waste Connections in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Waste Connections currently has an average rating of "Moderate Buy" and a consensus price target of $202.42.

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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