Waste Connections Inc (NYSE:WCN) declared a quarterly dividend on Thursday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.185 per share by the business services provider on Tuesday, August 18th. This represents a $0.74 annualized dividend and a yield of 0.72%. The ex-dividend date is Monday, August 3rd.
Waste Connections has raised its dividend by an average of 7.6% per year 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 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Waste Connections to earn $2.85 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 26.0%.
Shares of WCN opened at $102.37 on Friday. The company’s fifty day simple moving average is $95.00 and its 200-day simple moving average is $92.63. The company has a market cap of $26.91 billion, a P/E ratio of 37.09, a P/E/G ratio of 4.99 and a beta of 0.47. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78. Waste Connections has a twelve month low of $70.87 and a twelve month high of $105.17.
In other news, CEO Worthing Jackman sold 18,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total value of $1,660,680.00. Following the completion of the transaction, the chief executive officer now directly owns 113,239 shares of the company’s stock, valued at approximately $10,447,430.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.
WCN has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on Waste Connections from $156.00 to $146.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. AltaCorp Capital restated a “sector perform” rating on shares of Waste Connections in a report on Thursday, May 7th. BMO Capital Markets raised their price target on shares of Waste Connections from $104.00 to $106.00 in a research note on Friday, July 10th. Oppenheimer boosted their price objective on shares of Waste Connections from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Deutsche Bank raised their target price on shares of Waste Connections from $96.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $107.93.
About Waste Connections
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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