Waste Connections (NYSE:WCN) PT Raised to $193.00 at CIBC

Waste Connections (NYSE:WCN) had its price target boosted by CIBC from $191.00 to $193.00 in a research note released on Friday, Benzinga reports. CIBC currently has an outperformer rating on the business services provider’s stock.

Several other analysts also recently weighed in on WCN. Royal Bank of Canada boosted their target price on Waste Connections from $195.00 to $199.00 and gave the company an outperform rating in a report on Friday. Oppenheimer increased their target price on shares of Waste Connections from $181.00 to $191.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Raymond James increased their price objective on Waste Connections from $190.00 to $207.00 and gave the stock a strong-buy rating in a research report on Monday, July 22nd. StockNews.com raised Waste Connections from a hold rating to a buy rating in a report on Saturday, May 18th. Finally, Truist Financial upped their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $187.28.

Waste Connections Trading Up 0.2 %

WCN stock opened at $175.93 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections has a 52-week low of $126.12 and a 52-week high of $182.99. The company’s 50-day simple moving average is $172.80 and its 200-day simple moving average is $167.12. The firm has a market cap of $45.39 billion, a P/E ratio of 57.12, a PEG ratio of 2.87 and a beta of 0.72.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. Waste Connections’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Waste Connections will post 4.81 EPS for the current fiscal year.

Waste Connections Dividend Announcement

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

Insider Activity at Waste Connections

In other news, SVP Robert Nielsen III sold 2,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the completion of the transaction, the senior vice president now owns 6,321 shares in the company, valued at approximately $1,049,286. The sale was disclosed in a filing with the SEC, which is available at this link. In other Waste Connections news, SVP Robert Nielsen III sold 2,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $166.00, for a total transaction of $332,000.00. Following the completion of the transaction, the senior vice president now directly owns 6,321 shares in the company, valued at $1,049,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael W. Harlan sold 1,500 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total transaction of $251,385.00. Following the completion of the sale, the director now directly owns 8,004 shares in the company, valued at approximately $1,341,390.36. The disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock worth $752,385 over the last three months. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Waste Connections

Hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in shares of Waste Connections by 11.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 36,070 shares of the business services provider’s stock worth $6,325,000 after purchasing an additional 3,758 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Waste Connections by 1,167.4% in the 2nd quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock worth $83,020,000 after purchasing an additional 436,067 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Waste Connections by 7.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 143,690 shares of the business services provider’s stock valued at $25,205,000 after purchasing an additional 10,357 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Waste Connections by 12.7% in the second quarter. Arkadios Wealth Advisors now owns 1,649 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 186 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its position in shares of Waste Connections by 12.3% during the second quarter. Atomi Financial Group Inc. now owns 1,316 shares of the business services provider’s stock worth $231,000 after buying an additional 144 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.