Waste Connections (TSE:WCN) Hits New 12-Month High – Here’s Why

Waste Connections, Inc. (TSE:WCN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$260.96 and last traded at C$260.16, with a volume of 56826 shares. The stock had previously closed at C$258.11.

Wall Street Analyst Weigh In

Several research analysts recently commented on WCN shares. Eight Capital set a C$270.00 price target on Waste Connections and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Scotiabank upgraded shares of Waste Connections to a “hold” rating in a research note on Friday, October 4th. Finally, ATB Capital upped their target price on shares of Waste Connections from C$255.00 to C$260.00 in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$205.10.

Waste Connections Trading Up 1.3 %

The company’s 50-day moving average price is C$247.84 and its 200-day moving average price is C$240.81. The company has a debt-to-equity ratio of 100.60, a quick ratio of 0.74 and a current ratio of 0.70. The firm has a market capitalization of C$67.48 billion, a PE ratio of 57.23, a PEG ratio of 2.22 and a beta of 0.72.

Waste Connections Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.426 per share. This is a positive change from Waste Connections’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 0.65%. Waste Connections’s payout ratio is 34.37%.

Insider Activity

In other Waste Connections news, Senior Officer Robert Andres Nielsen sold 571 shares of the stock in a transaction 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 news, Senior Officer Robert Andres Nielsen sold 571 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$252.28, for a total value of C$144,051.88. Also, Director Edward E. Guillet sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$249.52, for a total value of C$1,996,164.00. Over the last 90 days, insiders have sold 9,071 shares of company stock valued at $2,231,091. Company 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.