Waste Connections (TSE:WCN) Sets New 1-Year High – What’s Next?

Waste Connections, Inc. (TSE:WCN)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$254.29 and last traded at C$250.61, with a volume of 9002 shares traded. The stock had previously closed at C$247.37.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WCN. ATB Capital boosted their price objective on Waste Connections from C$255.00 to C$260.00 in a report on Friday, October 25th. Eight Capital set a C$270.00 price target on Waste Connections and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Scotiabank raised Waste Connections to a “hold” rating in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$205.10.

Waste Connections Trading Up 1.5 %

The business has a 50 day moving average of C$247.67 and a 200-day moving average of C$240.41. The company has a current ratio of 0.70, a quick ratio of 0.74 and a debt-to-equity ratio of 100.60. The firm has a market capitalization of C$66.06 billion, a P/E ratio of 56.77, a PEG ratio of 2.22 and a beta of 0.72.

Waste Connections Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.426 per share. This represents a $1.70 dividend on an annualized basis and a yield of 0.67%. This is a boost from Waste Connections’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, November 7th. Waste Connections’s dividend payout ratio is presently 34.37%.

Insider Buying and Selling

In related news, Senior Officer Robert Andres Nielsen sold 571 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$252.28, for a total transaction of C$144,051.88. In other Waste Connections news, Director Edward E. Guillet sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$249.52, for a total transaction of C$1,996,164.00. Also, Senior Officer Robert Andres Nielsen sold 571 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$252.28, for a total value of C$144,051.88. In the last three months, insiders sold 9,071 shares of company stock valued at $2,231,091. 0.21% of the stock is owned by corporate insiders.

Waste Connections Company Profile

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.