Waste Connections Inc (NYSE:WCN) announced a quarterly dividend on Thursday, July 23rd, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend 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 raised its dividend annually for the last 10 consecutive years. Waste Connections has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
WCN opened at $102.44 on Friday. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 4.97 and a beta of 0.47. Waste Connections has a 1-year low of $70.87 and a 1-year high of $105.17. The business has a 50 day moving average of $95.00 and a 200-day moving average of $92.63. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78.
In related news, CEO Worthing Jackman sold 18,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 113,239 shares in the company, valued at $10,447,430.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.
Several research analysts recently commented on WCN shares. UBS Group reduced their target price on Waste Connections from $156.00 to $146.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Royal Bank of Canada increased their price objective on Waste Connections from $98.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Deutsche Bank increased their price objective on Waste Connections from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. KeyCorp increased their price objective on Waste Connections from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Raymond James increased their price objective on Waste Connections from $106.00 to $114.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has an average 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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