Insider Selling: Waste Connections, Inc. (NYSE:WCN) SVP Sells 2,300 Shares of Stock

Waste Connections, Inc. (NYSE:WCN) SVP Philip Rivard sold 2,300 shares of Waste Connections stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the completion of the transaction, the senior vice president now owns 1,226 shares of the company’s stock, valued at approximately $214,243.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Waste Connections Trading Up 0.9 %

Waste Connections stock traded up $1.63 during midday trading on Wednesday, hitting $179.29. 946,802 shares of the stock were exchanged, compared to its average volume of 913,719. The stock’s 50-day simple moving average is $174.34 and its 200 day simple moving average is $168.34. Waste Connections, Inc. has a fifty-two week low of $126.12 and a fifty-two week high of $182.99. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of 57.66, a PEG ratio of 2.85 and a beta of 0.72.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. On average, equities analysts anticipate that Waste Connections, Inc. will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 7th. Waste Connections’s payout ratio is 37.01%.

Institutional Trading of Waste Connections

Several institutional investors and hedge funds have recently bought and sold shares of WCN. Hexagon Capital Partners LLC increased its position in shares of Waste Connections by 116.2% during the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 86 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Waste Connections during the 1st quarter worth approximately $32,000. Pathway Financial Advisers LLC acquired a new stake in Waste Connections in the 1st quarter valued at approximately $43,000. Signature Resources Capital Management LLC purchased a new stake in Waste Connections in the second quarter valued at approximately $45,000. Finally, Rational Advisors LLC acquired a new position in Waste Connections during the first quarter worth $53,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WCN has been the subject of several research analyst reports. StockNews.com raised Waste Connections from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Royal Bank of Canada upped their price objective on shares of Waste Connections from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Truist Financial increased their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Connections in a research note on Thursday, May 23rd. They set a “buy” rating and a $189.00 target price for the company. Finally, Oppenheimer raised their price target on shares of Waste Connections from $181.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.28.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.