Waste Connections (NYSE:WCN) PT Lowered to $205.00

Waste Connections (NYSE:WCN) had its price target dropped by Raymond James from $208.00 to $205.00 in a report released on Friday, Benzinga reports. The firm presently has a “strong-buy” rating on the business services provider’s stock. Raymond James’ price objective would indicate a potential upside of 16.55% from the stock’s current price.

Several other analysts also recently commented on WCN. Truist Financial upped their price objective on shares of Waste Connections from $180.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 11th. CIBC lifted their price target on Waste Connections from $191.00 to $193.00 and gave the company an “outperformer” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lowered their price target on Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank of Canada raised their price objective on Waste Connections from $199.00 to $201.00 and gave the company an “outperform” rating in a report on Friday. Finally, Scotiabank initiated coverage on Waste Connections in a research note on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price for the company. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Connections presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Stock Performance

Shares of WCN traded down $2.67 during trading hours on Friday, reaching $175.89. 332,792 shares of the company traded hands, compared to its average volume of 879,857. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average price of $182.16 and a 200-day moving average price of $175.05. Waste Connections has a 12-month low of $126.12 and a 12-month high of $187.54. The stock has a market capitalization of $45.38 billion, a P/E ratio of 57.26, a P/E/G ratio of 2.90 and a beta of 0.72.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. Waste Connections had a return on equity of 15.16% and a net margin of 10.23%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company earned $1.17 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. Equities analysts anticipate that Waste Connections will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Robert Nielsen III sold 1,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the transaction, the senior vice president now directly owns 4,321 shares in the company, valued at approximately $778,428.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Waste Connections news, CFO Mary Anne Whitney sold 16,300 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total transaction of $2,902,215.00. Following the sale, the chief financial officer now directly owns 48,899 shares in the company, valued at $8,706,466.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Nielsen III sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $180.15, for a total transaction of $180,150.00. Following the completion of the transaction, the senior vice president now owns 4,321 shares of the company’s stock, valued at approximately $778,428.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,600 shares of company stock valued at $3,842,550 over the last quarter. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WCN. Principal Financial Group Inc. boosted its stake in shares of Waste Connections by 1,167.4% in the 2nd quarter. Principal Financial Group Inc. now owns 473,422 shares of the business services provider’s stock valued at $83,020,000 after buying an additional 436,067 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in Waste Connections by 438.5% in the first quarter. Zurich Insurance Group Ltd FI now owns 535,471 shares of the business services provider’s stock worth $92,106,000 after acquiring an additional 436,041 shares during the last quarter. Nicholas Company Inc. acquired a new position in Waste Connections during the 2nd quarter worth approximately $64,176,000. Sei Investments Co. increased its position in shares of Waste Connections by 252.5% in the 2nd quarter. Sei Investments Co. now owns 510,243 shares of the business services provider’s stock valued at $89,477,000 after purchasing an additional 365,487 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Waste Connections by 4,567.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 253,567 shares of the business services provider’s stock valued at $44,466,000 after purchasing an additional 248,134 shares in the last quarter. 86.09% of the stock is currently owned by hedge funds and other 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.