Waste Connections (TSE:WCN) Trading Up 1.3% – Here’s Why

Waste Connections, Inc. (TSE:WCN) rose 1.3% during mid-day trading on Thursday . The company traded as high as C$257.36 and last traded at C$256.48. Approximately 137,846 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 228,139 shares. The stock had previously closed at C$253.14.

Wall Street Analyst Weigh In

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

Waste Connections Stock Up 0.6 %

The business has a 50-day moving average of C$256.77 and a 200 day moving average of C$250.19. The company has a market capitalization of C$66.56 billion, a PE ratio of 57.21, 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.

Waste Connections Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.426 dividend. This represents a $1.70 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, November 7th. This is a boost from Waste Connections’s previous quarterly dividend of $0.39. Waste Connections’s payout ratio is currently 34.37%.

Insider Buying and Selling at Waste Connections

In related news, Senior Officer Robert Andres Nielsen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of C$260.63, for a total value of C$260,625.00. 0.21% of the stock is owned by company insiders.

About Waste Connections

Waste Connections is the third- largest integrated provider of traditional solid waste and recycling services in the North America, operating 91 active landfills (12 are E&P waste landfills), 132 transfer stations, and 68 recycling operations. The firm serves residential, commercial, industrial, and energy end markets.