Waste Connections (NYSE:WCN) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company initiated coverage on shares of Waste Connections (NYSE:WCN) in a note issued to investors on Thursday, MarketBeat reports. The firm set an “overweight” rating on the business services provider’s stock.

Other analysts also recently issued reports about the company. Sanford C. Bernstein began coverage on Waste Connections in a research report on Wednesday. They set an “outperform” rating and a $200.00 target price on the stock. National Bankshares decreased their price objective on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Raymond James Financial set a $213.00 target price on shares of Waste Connections and gave the company a “strong-buy” rating in a report on Monday, October 6th. Barclays reaffirmed a “negative” rating on shares of Waste Connections in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Waste Connections in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $208.67.

Waste Connections Price Performance

Shares of NYSE WCN traded up $1.37 during midday trading on Thursday, hitting $168.76. The company had a trading volume of 1,584,412 shares, compared to its average volume of 1,149,407. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 70.32, a price-to-earnings-growth ratio of 3.17 and a beta of 0.60. Waste Connections has a twelve month low of $163.27 and a twelve month high of $201.66. The business has a 50-day simple moving average of $172.38 and a two-hundred day simple moving average of $182.65. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07.

Waste Connections (NYSE:WCN) last issued its earnings results on Tuesday, October 21st. The business services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.06. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Waste Connections has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Connections will post 5.28 earnings per share for the current year.

Insider Buying and Selling at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total transaction of $1,569,960.00. Following the transaction, the director owned 14,883 shares of the company’s stock, valued at approximately $2,596,190.52. This represents a 37.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Waste Connections by 6.1% during the first quarter. CWM LLC now owns 1,335 shares of the business services provider’s stock worth $261,000 after purchasing an additional 77 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Waste Connections by 17.4% during the first quarter. Apollon Wealth Management LLC now owns 2,528 shares of the business services provider’s stock worth $493,000 after buying an additional 374 shares during the period. Larson Financial Group LLC boosted its stake in Waste Connections by 994.4% in the 1st quarter. Larson Financial Group LLC now owns 197 shares of the business services provider’s stock worth $38,000 after buying an additional 179 shares during the last quarter. PFG Advisors grew its holdings in Waste Connections by 46.5% in the 1st quarter. PFG Advisors now owns 24,267 shares of the business services provider’s stock valued at $4,734,000 after buying an additional 7,705 shares during the period. Finally, Choreo LLC grew its holdings in Waste Connections by 4.1% in the 1st quarter. Choreo LLC now owns 4,700 shares of the business services provider’s stock valued at $917,000 after buying an additional 184 shares during the period. 86.09% of the stock is currently owned by institutional investors and hedge funds.

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.