Waste Connections (NYSE:WCN) Given New $218.00 Price Target at Citigroup

Waste Connections (NYSE:WCN) had its price target hoisted by Citigroup from $199.00 to $218.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other equities research analysts have also recently weighed in on WCN. StockNews.com cut Waste Connections from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Scotiabank lowered their price objective on shares of Waste Connections from $196.00 to $192.00 and set a “sector perform” rating for the company in a research note on Monday, January 27th. Truist Financial restated a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Morgan Stanley lifted their price target on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Oppenheimer increased their price objective on shares of Waste Connections from $192.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. 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 Stock Down 5.9 %

Shares of WCN opened at $188.07 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.03. Waste Connections has a 52-week low of $160.34 and a 52-week high of $201.66. The stock has a fifty day simple moving average of $188.80 and a two-hundred day simple moving average of $183.26. The company has a market capitalization of $48.59 billion, a PE ratio of 78.69, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67.

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

Waste Connections Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.67%. Waste Connections’s dividend payout ratio is currently 52.72%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Waste Connections in the fourth quarter valued at approximately $687,935,000. FIL Ltd increased its stake in Waste Connections by 46.2% in the 4th quarter. FIL Ltd now owns 7,177,724 shares of the business services provider’s stock valued at $1,231,368,000 after purchasing an additional 2,269,652 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Waste Connections by 307.1% in the third quarter. Principal Financial Group Inc. now owns 1,927,155 shares of the business services provider’s stock valued at $344,615,000 after purchasing an additional 1,453,733 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Waste Connections in the 4th quarter valued at about $240,422,000. Finally, Capital International Investors lifted its holdings in shares of Waste Connections by 17.8% in the fourth quarter. Capital International Investors now owns 5,949,152 shares of the business services provider’s stock valued at $1,020,672,000 after purchasing an additional 899,058 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

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.