Waste Connections Inc (NYSE:WCN) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 1,004 put options on the stock. This is an increase of approximately 884% compared to the typical volume of 102 put options.
Waste Connections (WCN) opened at $68.42 on Friday. Waste Connections has a twelve month low of $50.86 and a twelve month high of $74.20. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $18,001.41, a PE ratio of 32.57, a P/E/G ratio of 4.07 and a beta of 0.17.
Waste Connections (NYSE:WCN) last posted its earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Waste Connections had a return on equity of 9.59% and a net margin of 7.68%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. equities analysts forecast that Waste Connections will post 2.12 earnings per share for the current year.
WCN has been the topic of several analyst reports. Royal Bank Of Canada lifted their price objective on Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective on shares of Waste Connections in a report on Tuesday, August 29th. Credit Suisse Group set a $82.00 price objective on Waste Connections and gave the stock an “outperform” rating in a report on Tuesday, October 31st. TD Securities lifted their price objective on Waste Connections from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded Waste Connections from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Thursday, October 5th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Waste Connections presently has a consensus rating of “Buy” and a consensus target price of $77.87.
In other Waste Connections news, COO Darrell W. Chambliss sold 5,625 shares of Waste Connections stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $70.99, for a total transaction of $399,318.75. Following the completion of the sale, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Davis sold 700 shares of Waste Connections stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $71.72, for a total value of $50,204.00. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Thompson Davis & CO. Inc. grew its holdings in shares of Waste Connections by 55.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,561 shares of the business services provider’s stock worth $101,000 after acquiring an additional 559 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Waste Connections in the 3rd quarter worth approximately $103,000. Fieldpoint Private Securities LLC boosted its position in shares of Waste Connections by 50.0% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 2,107 shares of the business services provider’s stock worth $136,000 after purchasing an additional 702 shares in the last quarter. US Bancorp DE boosted its position in shares of Waste Connections by 14.3% in the 2nd quarter. US Bancorp DE now owns 2,171 shares of the business services provider’s stock worth $140,000 after purchasing an additional 271 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Waste Connections by 223.5% in the 2nd quarter. Creative Planning now owns 2,397 shares of the business services provider’s stock worth $154,000 after purchasing an additional 1,656 shares in the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.
About Waste Connections
Waste Connections, Inc is a solid waste services company in North America. The Company provides waste collection, transfer, disposal and recycling services in markets in the United States and Canada. The Company operates through six segments: Southern segment, Western segment, Eastern segment, Canada segment, Central segment and E&P segment.
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