Waste Connections Sees Unusually Large Options Volume (WCN)

Waste Connections Inc (NYSE:WCN) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 1,000 put options on the company. This is an increase of approximately 890% compared to the average daily volume of 101 put options.

In other Waste Connections news, COO Darrell W. Chambliss sold 5,625 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $70.99, for a total value of $399,318.75. Following the transaction, the chief operating officer now owns 101,292 shares of the company’s stock, valued at $7,190,719.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Davis sold 700 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $71.72, for a total transaction of $50,204.00. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. AXA increased its stake in Waste Connections by 60.7% in the third quarter. AXA now owns 141,965 shares of the business services provider’s stock valued at $9,932,000 after purchasing an additional 53,598 shares during the last quarter. GSA Capital Partners LLP increased its stake in Waste Connections by 57.4% in the third quarter. GSA Capital Partners LLP now owns 28,835 shares of the business services provider’s stock valued at $2,017,000 after purchasing an additional 10,513 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in Waste Connections in the third quarter valued at approximately $537,000. Fieldpoint Private Securities LLC increased its stake in Waste Connections by 92.2% in the third quarter. Fieldpoint Private Securities LLC now owns 4,049 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Colony Group LLC purchased a new position in Waste Connections in the third quarter valued at approximately $1,535,000. 82.90% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on WCN. Bank of America began coverage on shares of Waste Connections in a research report on Friday. They issued a “buy” rating and a $80.00 target price on the stock. BMO Capital Markets began coverage on shares of Waste Connections in a research report on Monday, December 11th. They issued an “outperform” rating and a $79.00 target price on the stock. Credit Suisse Group set a $82.00 target price on shares of Waste Connections and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Oppenheimer upped their target price on shares of Waste Connections from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Finally, Royal Bank of Canada increased their price target on shares of Waste Connections from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $78.14.

Shares of Waste Connections (NYSE WCN) opened at $71.34 on Friday. The stock has a market cap of $18,707.96, a PE ratio of 54.05, a PEG ratio of 4.23 and a beta of 0.17. Waste Connections has a 1 year low of $52.24 and a 1 year high of $74.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.46.

Waste Connections (NYSE:WCN) last issued its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Waste Connections had a net margin of 7.68% and a return on equity of 9.59%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. research analysts expect that Waste Connections will post 2.12 EPS for the current fiscal year.

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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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