Waste Connections (TSE:WCN) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Waste Connections, Inc. (TSE:WCN) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$256.44 and traded as low as C$245.21. Waste Connections shares last traded at C$248.60, with a volume of 64,546 shares trading hands.

Analyst Ratings Changes

WCN has been the subject of a number of research reports. Eight Capital set a C$270.00 price objective on shares of Waste Connections and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. ATB Capital upped their price target on shares of Waste Connections from C$255.00 to C$260.00 in a research report on Friday, October 25th. Finally, Scotiabank raised shares of Waste Connections to a “hold” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Waste Connections presently has a consensus rating of “Hold” and an average price target of C$237.33.

Waste Connections Price Performance

The firm has a market capitalization of C$64.13 billion, a P/E ratio of 55.12, a P/E/G ratio of 2.22 and a beta of 0.72. The company has a debt-to-equity ratio of 100.60, a current ratio of 0.70 and a quick ratio of 0.74. The stock’s fifty day simple moving average is C$256.44 and its 200 day simple moving average is C$247.92.

Waste Connections Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.426 per share. This is a boost from Waste Connections’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 0.69%. Waste Connections’s dividend payout ratio is presently 34.37%.

Insiders Place Their Bets

In other news, Senior Officer Robert Andres Nielsen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of C$260.63, for a total transaction of C$260,625.00. Corporate insiders own 0.21% 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.