Waste Connections (NYSE:WCN) Price Target Raised to $219.00

Waste Connections (NYSE:WCN) had its price target upped by Morgan Stanley from $214.00 to $219.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

WCN has been the topic of several other reports. Scotiabank reduced their price objective on Waste Connections from $196.00 to $192.00 and set a “sector perform” rating on the stock in a research note on Monday, January 27th. Raymond James reduced their price objective on Waste Connections from $208.00 to $205.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Oppenheimer raised their price objective on Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Citigroup raised their price objective on Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Waste Connections Stock Performance

Waste Connections stock opened at $189.08 on Friday. The stock has a market cap of $48.80 billion, a P/E ratio of 51.94, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $179.36 and a 200-day moving average of $181.67. Waste Connections has a 52 week low of $160.34 and a 52 week high of $194.83.

Waste Connections (NYSE:WCN) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. On average, analysts expect that Waste Connections will post 4.83 EPS for the current fiscal year.

Waste Connections Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, February 27th. Waste Connections’s dividend payout ratio (DPR) is 34.62%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new position in Waste Connections during the fourth quarter worth about $26,000. Private Trust Co. NA grew its holdings in Waste Connections by 153.3% during the fourth quarter. Private Trust Co. NA now owns 152 shares of the business services provider’s stock worth $26,000 after acquiring an additional 92 shares during the period. Stonebridge Financial Group LLC acquired a new position in Waste Connections during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new position in Waste Connections during the fourth quarter worth about $28,000. Finally, Smartleaf Asset Management LLC grew its holdings 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 worth $33,000 after acquiring an additional 71 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

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.