Waste Connections Inc (NYSE:WCN) announced a quarterly dividend on Thursday, July 23rd, Zacks reports. Investors of record on Tuesday, August 4th will be paid 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 dividend yield of 0.72%. The ex-dividend date is Monday, August 3rd.
Waste Connections has raised its dividend by an average of 7.6% annually over the last three years and has raised its dividend every year for the last 10 years. Waste Connections has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Waste Connections to earn $2.82 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 26.2%.
Waste Connections stock opened at $102.44 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market capitalization of $26.78 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 4.97 and a beta of 0.47. Waste Connections has a one year low of $70.87 and a one year high of $105.17. The company’s fifty day moving average price is $95.00 and its two-hundred day moving average price is $92.63.
In related news, CEO Worthing Jackman sold 18,000 shares of Waste Connections stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total transaction of $1,660,680.00. Following the sale, the chief executive officer now directly owns 113,239 shares of the company’s stock, valued at $10,447,430.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.
Several research firms have commented on WCN. Deutsche Bank increased 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. KeyCorp raised their price target on Waste Connections from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. AltaCorp Capital reaffirmed a “sector perform” rating on shares of Waste Connections in a research report on Thursday, May 7th. Oppenheimer raised their price target on Waste Connections from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Royal Bank of Canada raised their price target on Waste Connections from $98.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Waste Connections currently has a consensus rating of “Buy” and an average price target 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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