Waste Connections (NYSE:WCN) Given New $197.00 Price Target at JPMorgan Chase & Co.

Waste Connections (NYSE:WCN) had its price objective decreased by JPMorgan Chase & Co. from $198.00 to $197.00 in a research report sent to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

Other equities analysts have also issued reports about the company. TD Cowen upped their target price on Waste Connections from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Oppenheimer raised their target price on shares of Waste Connections from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their target price on shares of Waste Connections from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Truist Financial increased their price target on shares of Waste Connections from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Eight Capital raised shares of Waste Connections to a “hold” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.56.

Waste Connections Trading Up 0.6 %

Shares of Waste Connections stock opened at $176.94 on Friday. The company’s 50-day moving average price is $181.84 and its 200-day moving average price is $175.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. Waste Connections has a 12-month low of $128.41 and a 12-month high of $187.54. The company has a market cap of $45.66 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 2.98 and a beta of 0.72.

Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a net margin of 10.23% and a return on equity of 15.16%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. On average, equities analysts expect that Waste Connections will post 4.82 earnings per share for the current fiscal year.

Waste Connections Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.315 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.26 annualized dividend and a yield of 0.71%. This is an increase from Waste Connections’s previous quarterly dividend of $0.29. Waste Connections’s payout ratio is presently 34.13%.

Insider Transactions at Waste Connections

In related news, SVP Philip Rivard sold 2,300 shares of Waste Connections stock in a transaction on Monday, August 5th. The shares were sold at an average price of $174.75, for a total value of $401,925.00. Following the transaction, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Philip Rivard sold 2,300 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $174.75, for a total value of $401,925.00. Following the sale, the senior vice president now directly owns 1,226 shares of the company’s stock, valued at $214,243.50. This trade represents a 0.00 % 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, CFO Mary Anne Whitney sold 16,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $178.05, for a total value of $2,902,215.00. Following the transaction, the chief financial officer now directly owns 48,899 shares of the company’s stock, valued at $8,706,466.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,600 shares of company stock worth $3,842,550. Insiders own 0.31% of the company’s stock.

Institutional Trading of Waste Connections

Several large investors have recently added to or reduced their stakes in the stock. American Trust lifted its position in shares of Waste Connections by 3.7% in the 2nd quarter. American Trust now owns 1,573 shares of the business services provider’s stock worth $276,000 after purchasing an additional 56 shares during the period. GAMMA Investing LLC raised its stake in Waste Connections by 15.0% in the third quarter. GAMMA Investing LLC now owns 529 shares of the business services provider’s stock worth $95,000 after buying an additional 69 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Waste Connections by 8.8% in the second quarter. First Horizon Advisors Inc. now owns 916 shares of the business services provider’s stock worth $161,000 after buying an additional 74 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Waste Connections by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,966 shares of the business services provider’s stock valued at $1,047,000 after acquiring an additional 82 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Waste Connections by 116.2% during the 1st 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. Institutional investors own 86.09% of the company’s stock.

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.