Insider Selling: Waste Connections Inc (NYSE:WCN) Director Sells 6,000 Shares of Stock

Waste Connections Inc (NYSE:WCN) Director William J. Razzouk sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $90.29, for a total value of $541,740.00. Following the transaction, the director now directly owns 13,919 shares of the company’s stock, valued at $1,256,746.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE WCN traded down $1.46 during midday trading on Monday, hitting $88.59. 622,700 shares of the company’s stock were exchanged, compared to its average volume of 792,277. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.47 and a current ratio of 1.05. The business’s 50 day moving average is $95.19. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.91 and a beta of 0.20. Waste Connections Inc has a twelve month low of $70.28 and a twelve month high of $97.93.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Waste Connections had a return on equity of 10.57% and a net margin of 10.82%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, equities research analysts predict that Waste Connections Inc will post 2.66 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 12th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.72%. Waste Connections’s dividend payout ratio is presently 25.40%.

Several equities analysts have recently commented on WCN shares. CIBC reaffirmed a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. ValuEngine lowered Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday. TD Securities boosted their price objective on Waste Connections from $88.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Stifel Nicolaus upgraded Waste Connections from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $88.00 to $105.00 in a research report on Thursday, April 25th. Finally, Royal Bank of Canada set a $100.00 price objective on Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $96.27.

Several hedge funds and other institutional investors have recently modified their holdings of WCN. Nomura Asset Management Co. Ltd. lifted its position in Waste Connections by 3.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 45,724 shares of the business services provider’s stock worth $4,051,000 after purchasing an additional 1,624 shares during the period. Jane Street Group LLC lifted its position in Waste Connections by 225.1% in the fourth quarter. Jane Street Group LLC now owns 8,804 shares of the business services provider’s stock worth $654,000 after purchasing an additional 6,096 shares during the period. Allstate Corp lifted its position in Waste Connections by 0.5% in the first quarter. Allstate Corp now owns 28,753 shares of the business services provider’s stock worth $2,547,000 after purchasing an additional 133 shares during the period. FMR LLC lifted its position in Waste Connections by 37.3% in the fourth quarter. FMR LLC now owns 2,299,479 shares of the business services provider’s stock worth $170,713,000 after purchasing an additional 625,254 shares during the period. Finally, Altman Advisors Inc. acquired a new stake in Waste Connections in the first quarter worth approximately $967,000. Institutional investors and hedge funds own 83.23% of the company’s stock.

Waste Connections Company Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and 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.

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