Waste Connections (NYSE:WCN) VP Sells $1,171,950.00 in Stock

Waste Connections, Inc. (NYSE:WCN) VP Patrick James Shea sold 7,500 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total transaction of $1,171,950.00. Following the completion of the transaction, the vice president directly owned 19,737 shares in the company, valued at $3,084,103.62. This trade represents a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Waste Connections Stock Performance

Shares of NYSE:WCN traded up $3.92 during midday trading on Tuesday, reaching $157.63. The company had a trading volume of 1,526,850 shares, compared to its average volume of 1,657,904. The company’s 50 day moving average price is $157.98 and its 200 day moving average price is $165.58. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13. The stock has a market cap of $39.99 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.76 and a beta of 0.51. Waste Connections, Inc. has a 52-week low of $146.89 and a 52-week high of $192.72.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.50 billion. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. As a group, sell-side analysts anticipate that Waste Connections, Inc. will post 5.5 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Wednesday, May 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 6th. Waste Connections’s dividend payout ratio is currently 34.15%.

Institutional Investors Weigh In On Waste Connections

Institutional investors and hedge funds have recently modified their holdings of the company. City Holding Co. purchased a new stake in shares of Waste Connections in the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Waste Connections in the third quarter worth about $26,000. Transamerica Financial Advisors LLC lifted its holdings in shares of Waste Connections by 346.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after buying an additional 135 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Waste Connections in the third quarter worth about $30,000. Finally, Whipplewood Advisors LLC lifted its holdings in shares of Waste Connections by 1,166.7% in the first quarter. Whipplewood Advisors LLC now owns 190 shares of the business services provider’s stock worth $31,000 after buying an additional 175 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Waste Connections from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Morgan Stanley set a $205.00 price objective on shares of Waste Connections and gave the company an “overweight” rating in a report on Friday, February 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $218.00 price objective (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. Finally, TD Cowen dropped their price objective on shares of Waste Connections from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Waste Connections has a consensus rating of “Moderate Buy” and an average price target of $202.84.

About Waste Connections

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.