Waste Connections (TSE:WCN) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Waste Connections, Inc. (TSE:WCN) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$255.57 and traded as high as C$258.28. Waste Connections shares last traded at C$253.93, with a volume of 523,914 shares.

Analysts Set New Price Targets

WCN has been the topic of several analyst reports. Eight Capital set a C$270.00 price target on Waste Connections and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Scotiabank raised shares of Waste Connections to a “hold” rating in a research note on Friday, October 4th. Finally, ATB Capital increased their price target on shares of Waste Connections from C$255.00 to C$260.00 in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$237.33.

Waste Connections Trading Down 0.8 %

The company has a 50 day moving average price of C$255.57 and a 200 day moving average price of C$246.86. The company has a debt-to-equity ratio of 100.60, a quick ratio of 0.74 and a current ratio of 0.70. The firm has a market cap of C$65.51 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72.

Waste Connections Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.426 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 0.67%. This is a boost from Waste Connections’s previous quarterly dividend of $0.39. Waste Connections’s dividend payout ratio is presently 34.37%.

Insider Buying and Selling at Waste Connections

In other news, Senior Officer Robert Andres Nielsen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$260.63, for a total transaction of C$260,625.00. Company insiders own 0.21% of the company’s stock.

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.