Waste Connections (NYSE:WCN) Hits New 12-Month High - Here's Why

Waste Connections, Inc. (NYSE:WCN - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $195.64 and last traded at $195.05, with a volume of 1284433 shares changing hands. The stock had previously closed at $192.83.

Analysts Set New Price Targets

Several brokerages have weighed in on WCN. Citigroup increased their price objective on Waste Connections from $199.00 to $218.00 and gave the company a "neutral" rating in a report on Wednesday. Oppenheimer lifted their price objective on Waste Connections from $192.00 to $195.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Truist Financial restated a "buy" rating and issued a $210.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. CIBC cut their target price on shares of Waste Connections from $215.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Finally, Stifel Nicolaus lifted their target price on shares of Waste Connections from $205.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $204.00.

Waste Connections Trading Down 0.3 %

The company has a debt-to-equity ratio of 1.03, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $50.64 billion, a P/E ratio of 82.01, a PEG ratio of 3.07 and a beta of 0.81. The firm's fifty day moving average price is $187.82 and its two-hundred day moving average price is $183.03.

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Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. As a group, equities research analysts forecast that Waste Connections, Inc. will post 5.28 EPS for the current year.

Waste Connections Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 0.64%. Waste Connections's dividend payout ratio is presently 52.72%.

Institutional Trading of Waste Connections

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA increased its stake in Waste Connections by 153.3% in the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider's stock valued at $26,000 after acquiring an additional 92 shares during the last quarter. Manchester Capital Management LLC purchased a new position in shares of Waste Connections during the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new stake in Waste Connections in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Waste Connections in the fourth quarter worth approximately $28,000. Finally, Smartleaf Asset Management LLC grew its position in Waste Connections by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the business services provider's stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company's stock.

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.