Waste Connections (NYSE:WCN) Sets New 1-Year High – Here’s Why

Waste Connections, Inc. (NYSE:WCN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $188.47 and last traded at $187.04, with a volume of 19441 shares trading hands. The stock had previously closed at $187.50.

Analyst Ratings Changes

WCN has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. CIBC lifted their target price on shares of Waste Connections from $191.00 to $193.00 and gave the stock an “outperformer” rating in a report on Friday, July 26th. Stifel Nicolaus reissued a “buy” rating and issued a $205.00 price target (up previously from $200.00) on shares of Waste Connections in a report on Friday, October 25th. Raymond James decreased their price target on shares of Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Finally, Scotiabank began coverage on shares of Waste Connections in a report on Friday, October 4th. They issued a “sector perform” rating and a $196.00 price target for the company. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $195.56.

Waste Connections Stock Up 1.3 %

The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $48.78 billion, a P/E ratio of 51.93, a price-to-earnings-growth ratio of 3.13 and a beta of 0.72. The stock’s fifty day moving average is $180.99 and its 200 day moving average is $177.40.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 EPS. Research analysts predict that Waste Connections, Inc. will post 4.84 EPS for the current fiscal year.

Waste Connections Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.315 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, November 7th. Waste Connections’s dividend payout ratio (DPR) is currently 34.62%.

Institutional Trading of Waste Connections

Large investors have recently made changes to their positions in the stock. Global Trust Asset Management LLC bought a new stake in shares of Waste Connections in the third quarter worth approximately $36,000. FSA Wealth Management LLC bought a new stake in shares of Waste Connections in the third quarter worth approximately $40,000. Continuum Advisory LLC grew its stake in shares of Waste Connections by 58.0% in the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock worth $42,000 after acquiring an additional 83 shares during the period. Asset Dedication LLC purchased a new position in shares of Waste Connections in the third quarter worth approximately $41,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Waste Connections in the first quarter worth approximately $43,000. 86.09% of the stock is currently owned by institutional investors.

About Waste Connections

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.