Robert Nielsen III, Senior Vice President of Operations at Waste Connections, Inc. (NYSE:WCN), recently sold 1,000 shares of the company's common stock. The transaction, which took place on November 12, was executed at a price of $187.50 per share, resulting in a total value of $187,500. Following this sale, Nielsen owns 2,250 shares in the company.
In other recent news, Waste Connections Inc (TSX:WCN) (NYSE:WCN). has reported a significant increase in its third-quarter revenue for 2024, reaching $2.338 billion, marking a 13.3% increase from the previous year. Adjusted EBITDA was up 17.3% year-over-year at $787.4 million. The company's full-year revenue outlook has been raised to approximately $8.9 billion, with adjusted EBITDA expected around $2.91 billion. In light of these developments, Oppenheimer adjusted its outlook on Waste Connections, reducing the price target to $192 from the previous $194, while reaffirming an Outperform rating on the company's stock. The firm's decision was based on the introduction of fiscal year 2026 estimates and the company's preliminary outlook for fiscal year 2025. Despite a 10% decrease in waste volumes, the company witnessed increases in landfill gas sales and recycled commodity revenues. Waste Connections is also on track for a full-year adjusted free cash flow projection of $1.2 billion. Looking ahead, the company anticipates mid- to high single-digit revenue and EBITDA growth for 2025.
InvestingPro Insights
Robert Nielsen III's recent sale of Waste Connections, Inc. (NYSE:WCN) shares comes at a time when the company's stock is trading near its 52-week high, with a price that is 99.58% of its peak. This timing aligns with an InvestingPro Tip indicating that WCN is currently trading at a high earnings multiple, which could suggest that the stock is richly valued.
Despite the insider sale, Waste Connections has demonstrated strong financial performance. The company's revenue grew by 10.68% over the last twelve months, reaching $8.69 billion. This growth is complemented by a healthy gross profit margin of 41.78%, indicating efficient operations and pricing power in the waste management sector.
Investors should note that WCN has a track record of increasing shareholder value, as highlighted by another InvestingPro Tip: the company has raised its dividend for 9 consecutive years. This consistent dividend growth, coupled with a current dividend yield of 0.67%, may appeal to income-focused investors looking for stable returns.
For those considering WCN as an investment, it's worth mentioning that InvestingPro offers 15 additional tips that could provide further insights into the company's financial health and market position. These tips, along with real-time metrics, can help investors make more informed decisions about Waste Connections' stock.
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