Waste Connections (NYSE:WCN) Given New $207.00 Price Target at Raymond James

Waste Connections (NYSE:WCN) had its price target upped by Raymond James from $190.00 to $207.00 in a report published on Monday, BayStreet.CA reports. The firm currently has a strong-buy rating on the business services provider’s stock.

WCN has been the subject of several other reports. Royal Bank of Canada reduced their price objective on Waste Connections from $196.00 to $195.00 and set an outperform rating for the company in a report on Friday, April 26th. StockNews.com upgraded Waste Connections from a hold rating to a buy rating in a report on Saturday, May 18th. Truist Financial lifted their price objective on Waste Connections from $180.00 to $200.00 and gave the stock a buy rating in a report on Thursday, July 11th. Oppenheimer raised their target price on Waste Connections from $181.00 to $191.00 and gave the stock an outperform rating in a research report on Monday, July 15th. Finally, BMO Capital Markets raised their target price on Waste Connections from $182.00 to $186.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waste Connections currently has an average rating of Moderate Buy and a consensus price target of $184.12.

Waste Connections Stock Performance

Waste Connections stock opened at $175.49 on Monday. The stock’s 50 day moving average is $172.43 and its 200 day moving average is $166.46. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. Waste Connections has a twelve month low of $126.12 and a twelve month high of $182.99. The company has a market capitalization of $45.28 billion, a P/E ratio of 56.98, a PEG ratio of 3.00 and a beta of 0.72.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts predict that Waste Connections will post 4.79 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Wednesday, August 7th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.65%. Waste Connections’s dividend payout ratio is presently 37.01%.

Insider Buying and Selling

In other Waste Connections news, SVP Robert Nielsen III sold 1,000 shares of Waste Connections stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $169.00, for a total value of $169,000.00. Following the sale, the senior vice president now owns 5,321 shares of the company’s stock, valued at approximately $899,249. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Waste Connections news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the sale, the director now owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $169.00, for a total value of $169,000.00. Following the transaction, the senior vice president now directly owns 5,321 shares in the company, valued at approximately $899,249. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,500 shares of company stock valued at $752,385. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Waste Connections

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in Waste Connections in the 4th quarter valued at $592,392,000. Wellington Management Group LLP lifted its holdings in shares of Waste Connections by 43.4% in the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after buying an additional 1,320,933 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Waste Connections by 57.7% in the 4th quarter. Mackenzie Financial Corp now owns 3,500,718 shares of the business services provider’s stock worth $522,988,000 after buying an additional 1,281,418 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Waste Connections by 235.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,153,882 shares of the business services provider’s stock worth $172,240,000 after buying an additional 809,914 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Waste Connections by 113.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,188,703 shares of the business services provider’s stock worth $177,438,000 after buying an additional 630,685 shares during the period. Institutional investors own 86.09% 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.