Waste Connections Inc (NYSE:WCN) Plans Dividend Increase – $0.19 Per Share

Waste Connections Inc (NYSE:WCN) declared a quarterly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.185 per share by the business services provider on Thursday, March 12th. This represents a $0.74 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Waste Connections’s previous quarterly dividend of $0.14.

Waste Connections has raised its dividend by an average of 14.0% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Waste Connections has a dividend payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Waste Connections to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 25.1%.

WCN stock traded up $0.74 during midday trading on Friday, reaching $103.54. The company’s stock had a trading volume of 20,547 shares, compared to its average volume of 689,880. Waste Connections has a 52 week low of $80.66 and a 52 week high of $103.39. The stock has a market cap of $27.11 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 3.86 and a beta of 0.08. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $96.03 and its 200-day simple moving average is $92.25.

Waste Connections (NYSE:WCN) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Waste Connections had a net margin of 10.70% and a return on equity of 10.62%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Waste Connections will post 2.66 earnings per share for the current fiscal year.

In related news, VP David Eddie sold 934 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $90.55, for a total transaction of $84,573.70. Following the sale, the vice president now directly owns 41,023 shares in the company, valued at $3,714,632.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Several research firms have weighed in on WCN. Bank of America increased their target price on shares of Waste Connections from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James raised their price objective on Waste Connections from $109.00 to $117.00 and gave the stock a “strong-buy” rating in a research note on Friday. Royal Bank of Canada reaffirmed a “buy” rating and set a $100.00 price objective on shares of Waste Connections in a research note on Sunday, December 15th. Deutsche Bank lifted their target price on Waste Connections from $106.00 to $116.00 and gave the stock a “buy” rating in a report on Friday. Finally, CIBC set a $99.00 target price on Waste Connections and gave the company a “buy” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $104.02.

Waste Connections Company Profile

Waste Connections, Inc 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, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Dividend History for Waste Connections (NYSE:WCN)

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