Waste Connections (NYSE:WCN) Price Target Raised to $186.00

Waste Connections (NYSE:WCN) had its price target hoisted by BMO Capital Markets from $182.00 to $186.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. Citigroup lifted their price target on shares of Waste Connections from $136.00 to $163.00 and gave the company a neutral rating in a report on Thursday, January 18th. Wells Fargo & Company lifted their target price on shares of Waste Connections from $170.00 to $185.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Royal Bank of Canada decreased their price target on shares of Waste Connections from $196.00 to $195.00 and set an outperform rating for the company in a research note on Friday. Oppenheimer lifted their price objective on Waste Connections from $170.00 to $180.00 and gave the company an outperform rating in a research report on Monday, March 18th. Finally, Atb Cap Markets lowered Waste Connections from an outperform rating to a sector perform rating in a research report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $179.33.

Waste Connections Price Performance

WCN stock opened at $164.65 on Friday. The stock has a market capitalization of $42.48 billion, a price-to-earnings ratio of 53.46, a PEG ratio of 2.64 and a beta of 0.66. The firm’s 50-day moving average price is $168.16 and its two-hundred day moving average price is $152.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00. Waste Connections has a 12-month low of $126.12 and a 12-month high of $173.02.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Waste Connections had a return on equity of 14.66% and a net margin of 9.70%. Waste Connections’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts predict that Waste Connections will post 4.84 earnings per share for the current year.

Waste Connections Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.14 dividend on an annualized basis and a yield of 0.69%. Waste Connections’s dividend payout ratio is currently 37.01%.

Insiders Place Their Bets

In other news, Director Andrea E. Bertone sold 902 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $169.17, for a total transaction of $152,591.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pacifica Partners Inc. purchased a new position in Waste Connections in the 4th quarter worth about $25,000. Hexagon Capital Partners LLC grew its stake in shares of Waste Connections by 116.2% in the first quarter. Hexagon Capital Partners LLC now owns 160 shares of the business services provider’s stock worth $28,000 after acquiring an additional 86 shares during the period. OFI Invest Asset Management purchased a new position in shares of Waste Connections during the first quarter valued at approximately $32,000. Headinvest LLC bought a new position in Waste Connections during the third quarter valued at approximately $36,000. Finally, Operose Advisors LLC purchased a new stake in Waste Connections in the third quarter worth approximately $40,000. 86.09% of the stock is owned by institutional investors.

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.