Darrell W. Chambliss Sells 6,485 Shares of Waste Connections Inc (WCN) Stock

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Waste Connections Inc (NYSE:WCN) COO Darrell W. Chambliss sold 6,485 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $80.00, for a total transaction of $518,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of WCN opened at $80.58 on Friday. Waste Connections Inc has a 1-year low of $65.06 and a 1-year high of $81.36. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.77 and a beta of 0.07. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.60.

Waste Connections (NYSE:WCN) last announced its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business earned $0.55 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts predict that Waste Connections Inc will post 2.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 21st. Stockholders of record on Tuesday, August 7th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Monday, August 6th. Waste Connections’s payout ratio is 25.93%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Highstreet Asset Management Inc. boosted its stake in shares of Waste Connections by 35.3% in the second quarter. Highstreet Asset Management Inc. now owns 15,169 shares of the business services provider’s stock valued at $1,143,000 after purchasing an additional 3,958 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Waste Connections by 1.5% in the first quarter. JPMorgan Chase & Co. now owns 9,873,222 shares of the business services provider’s stock valued at $708,306,000 after purchasing an additional 147,543 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Waste Connections in the second quarter valued at approximately $3,255,000. TCW Group Inc. boosted its stake in shares of Waste Connections by 0.9% in the first quarter. TCW Group Inc. now owns 1,164,657 shares of the business services provider’s stock valued at $83,552,000 after purchasing an additional 10,756 shares during the period. Finally, PCJ Investment Counsel Ltd. boosted its stake in shares of Waste Connections by 25.7% in the first quarter. PCJ Investment Counsel Ltd. now owns 872,844 shares of the business services provider’s stock valued at $62,586,000 after purchasing an additional 178,325 shares during the period. 82.86% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. Citigroup lifted their price target on shares of Waste Connections from $80.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Friday, May 25th. Royal Bank of Canada lifted their price target on shares of Waste Connections from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Finally, TD Securities lifted their price target on shares of Waste Connections from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Waste Connections currently has a consensus rating of “Buy” and an average price target of $83.00.

About Waste Connections

Waste Connections, Inc, a solid waste services company, provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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