Waste Connections (TSE:WCN) Sets New 12-Month High – Should You Buy?

Waste Connections, Inc. (TSE:WCN)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$254.29 and last traded at C$250.61, with a volume of 9002 shares changing hands. The stock had previously closed at C$247.37.

Wall Street Analyst Weigh In

WCN has been the topic of several research analyst reports. ATB Capital upped their price target on shares of Waste Connections from C$255.00 to C$260.00 in a report on Friday, October 25th. Scotiabank upgraded Waste Connections to a “hold” rating in a research note on Friday, October 4th. Finally, Eight Capital set a C$270.00 price target on Waste Connections and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$205.10.

Waste Connections Price Performance

The company has a market capitalization of C$64.50 billion, a PE ratio of 54.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 0.70 and a debt-to-equity ratio of 100.60. The firm’s 50-day moving average is C$247.58 and its 200-day moving average is C$240.07.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a $0.426 dividend. This is a boost from Waste Connections’s previous quarterly dividend of $0.39. This represents a $1.70 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, November 7th. Waste Connections’s dividend payout ratio is presently 34.37%.

Insider Activity at Waste Connections

In related news, Director Edward E. Guillet sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$249.52, for a total value of C$1,996,164.00. In other news, Senior Officer Robert Andres Nielsen sold 571 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$252.28, for a total transaction of C$144,051.88. Also, Director Edward E. Guillet sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$249.52, for a total value of C$1,996,164.00. In the last three months, insiders have sold 9,071 shares of company stock valued at $2,231,091. Corporate insiders own 0.21% of the company’s stock.

Waste Connections Company Profile

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.