Waste Connections (NYSE:WCN) Research Coverage Started at The Goldman Sachs Group
The Goldman Sachs Group began coverage on shares of Waste Connections (NYSE:WCN) in a report published on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $124.00 price target on the business services provider’s stock.
Several other brokerages also recently commented on WCN. Morgan Stanley lifted their price target on Waste Connections from $119.00 to $120.00 and gave the stock an overweight rating in a research report on Wednesday, January 6th. Raymond James lifted their price objective on Waste Connections from $118.00 to $120.00 and gave the stock a strong-buy rating in a report on Friday, January 8th. BMO Capital Markets lifted their price objective on Waste Connections from $118.00 to $120.00 and gave the stock an outperform rating in a report on Monday, March 29th. They noted that the move was a valuation call. Finally, Royal Bank of Canada decreased their price objective on Waste Connections from $116.00 to $113.00 and set an outperform rating on the stock in a report on Thursday, February 25th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $114.50.
Shares of NYSE WCN opened at $112.42 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $102.95 and its two-hundred day moving average is $102.70. The company has a market cap of $29.51 billion, a P/E ratio of 144.13, a P/E/G ratio of 4.95 and a beta of 0.44. Waste Connections has a 12 month low of $81.34 and a 12 month high of $112.42.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 3rd were paid a $0.205 dividend. This is a positive change from Waste Connections’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 2nd. This represents a $0.82 annualized dividend and a yield of 0.73%. Waste Connections’s payout ratio is currently 22.79%.
A number of hedge funds have recently made changes to their positions in WCN. Hoover Financial Advisors Inc. acquired a new stake in Waste Connections in the 4th quarter valued at $28,000. Whittier Trust Co. boosted its stake in Waste Connections by 225.0% in the fourth quarter. Whittier Trust Co. now owns 325 shares of the business services provider’s stock worth $33,000 after purchasing an additional 225 shares in the last quarter. Capital Asset Advisory Services LLC acquired a new position in Waste Connections in the fourth quarter worth $51,000. Truvestments Capital LLC boosted its stake in Waste Connections by 30.8% in the fourth quarter. Truvestments Capital LLC now owns 693 shares of the business services provider’s stock worth $71,000 after purchasing an additional 163 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new position in Waste Connections in the fourth quarter worth $101,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.
About Waste Connections
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through five segments: Southern, Western, Eastern, Canada, Central, and Corporate. It offers collection services to residential, commercial, municipal, industrial, and 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.
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