Waste Connections (NYSE:WCN) PT Raised to $195.00

07 Oct 2024, 02:25 by Renee Jackson · The Cerbat Gem

Waste Connections (NYSE:WCN – Free Report) had its price target raised by Citigroup from $190.00 to $195.00 in a research note published on Thursday, BayStreet.CA reports. Citigroup currently has a neutral rating on the business services provider’s stock.

Other research analysts have also issued research reports about the company. CIBC boosted their target price on Waste Connections from $191.00 to $193.00 and gave the company an outperformer rating in a report on Friday, July 26th. Truist Financial upped their target price on Waste Connections from $180.00 to $200.00 and gave the company a buy rating in a report on Thursday, July 11th. Royal Bank of Canada increased their price objective on Waste Connections from $195.00 to $199.00 and gave the company an outperform rating in a research note on Friday, July 26th. TD Cowen increased their price objective on Waste Connections from $185.00 to $200.00 and gave the company a buy rating in a research note on Friday, July 26th. Finally, BMO Capital Markets raised their price target on Waste Connections from $196.00 to $198.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $191.53.

View Our Latest Stock Analysis on WCN

Waste Connections Stock Down 1.0 %

Shares of NYSE:WCN opened at $176.41 on Thursday. The company has a market capitalization of $45.52 billion, a price-to-earnings ratio of 57.28, a PEG ratio of 2.88 and a beta of 0.72. 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 business has a 50-day moving average price of $181.56 and a 200 day moving average price of $174.08. Waste Connections has a 12-month low of $126.12 and a 12-month high of $187.54.

Waste Connections (NYSE:WCN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Sell-side analysts expect that Waste Connections will post 4.84 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.285 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.14 annualized dividend and a yield of 0.65%. Waste Connections’s dividend payout ratio is presently 37.01%.

Insiders Place Their Bets

In other news, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the completion of the sale, the chief financial officer now directly owns 48,899 shares in the company, valued at approximately $8,706,466.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Susan Netherton sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $179.13, for a total transaction of $358,260.00. Following the completion of the transaction, the senior vice president now owns 10,078 shares in the company, valued at $1,805,272.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mary Anne Whitney sold 16,300 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $178.05, for a total value of $2,902,215.00. Following the transaction, the chief financial officer now owns 48,899 shares of the company’s stock, valued at $8,706,466.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,600 shares of company stock worth $3,842,550 in the last three months. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its position in Waste Connections by 116.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after acquiring an additional 86 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Waste Connections during the first quarter worth $32,000. Pathway Financial Advisers LLC acquired a new stake in shares of Waste Connections during the first quarter worth $43,000. Signature Resources Capital Management LLC acquired a new stake in shares of Waste Connections during the second quarter worth $45,000. Finally, Carolinas Wealth Consulting LLC raised its position in Waste Connections by 3,885.7% during the second quarter. Carolinas Wealth Consulting LLC now owns 279 shares of the business services provider’s stock valued at $49,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Company Profile

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