Waste Connections (NYSE:WCN) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Waste Connections (NYSE:WCN) issued its earnings results on Wednesday. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15, FiscalAI reports. Waste Connections had a net margin of 10.86% and a return on equity of 17.20%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the business posted $1.29 EPS. Waste Connections’s revenue was up 6.4% on a year-over-year basis.

Waste Connections Trading Up 0.8%

NYSE:WCN opened at $169.35 on Friday. The company has a market cap of $42.73 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 2.94 and a beta of 0.49. 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 company has a 50 day simple moving average of $161.10 and a two-hundred day simple moving average of $163.24. Waste Connections has a 12 month low of $146.89 and a 12 month high of $191.91.

Waste Connections Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 6th. Waste Connections’s dividend payout ratio (DPR) is presently 34.15%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WCN shares. JPMorgan Chase & Co. lowered their price target on shares of Waste Connections from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, July 13th. BMO Capital Markets reiterated an “outperform” rating and set a $208.00 target price (up from $206.00) on shares of Waste Connections in a research note on Friday, April 24th. Citigroup upped their price target on shares of Waste Connections from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings cut Waste Connections from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $211.00 target price on shares of Waste Connections in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Insider Transactions at Waste Connections

In related news, COO Jason Craft sold 1,500 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $156.59, for a total transaction of $234,885.00. Following the sale, the chief operating officer owned 32,861 shares of the company’s stock, valued at $5,145,703.99. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP James Little sold 2,605 shares of Waste Connections stock in a transaction on Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the transaction, the vice president directly owned 34,395 shares of the company’s stock, valued at $5,640,092.10. The trade was a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,605 shares of company stock valued at $2,822,923. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Waste Connections

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Waste Connections in the 3rd quarter valued at about $26,000. Transamerica Financial Advisors LLC increased its position in shares of Waste Connections by 346.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 174 shares of the business services provider’s stock worth $31,000 after purchasing an additional 135 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new position in Waste Connections in the 4th quarter valued at about $39,000. Larson Financial Group LLC lifted its holdings in Waste Connections by 89.5% during the 3rd quarter. Larson Financial Group LLC now owns 360 shares of the business services provider’s stock worth $63,000 after buying an additional 170 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Waste Connections during the fourth quarter worth approximately $70,000. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Waste Connections Company Profile

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.