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.
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.
Read More: Why is the LIBOR significant?
Receive News & Ratings for Waste Connections Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Connections and related companies with MarketBeat.com's FREE daily email newsletter.