Waste Connections Inc. [WCN] Exec VP, General Counsel & Sec makes an insider sale of 7,000 shares worth 1,016,806.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Waste Connections Inc. shares valued at $1,016,806 were sold by Shea Patrick James on Sep 08. At $145.26 per share, Shea Patrick James sold 7,000 shares. The insider’s holdings dropped to 12,813 shares worth approximately $1.83 million following the completion of this transaction.

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Also, RAZZOUK WILLIAM J sold 2,000 shares, netting a total of over 280,320 in proceeds. Following the sale of shares at $140.16 each, the insider now holds 5,584 shares.

Before that, RAZZOUK WILLIAM J had sold 4,073 shares from its account. In a trade valued at $570,337, the Director traded Waste Connections Inc. shares for $140.03 each. Upon closing the transaction, the insider’s holdings decreased to 4,073 shares, worth approximately $0.57 million.

As published in a research note from Scotiabank on April 07, 2022, Waste Connections Inc. [WCN] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $135. This represents a -5.75% premium over Wednesday’s closing price. As of April 07, 2021, Goldman has initiated its “Buy” rating for WCN. Earlier on October 13, 2020, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for WCN stock.

Analyzing WCN’s Price Performance

On Wednesday, Waste Connections Inc. [NYSE: WCN] plunged -0.87% to $142.76. The stock’s lowest price that day was $142.68, but it reached a high of $145.51 in the same session. During the last five days, there has been a drop of approximately -2.67%. Over the course of the year, Waste Connections Inc. shares have jumped approximately 4.76%. Shares of the company reached a 52-week high of $148.20 on 09/12/22 and a 52-week low of $113.50 on 06/17/22. A 50-day SMA is recorded $137.64, while a 200-day SMA reached $131.32. Nevertheless, trading volume fell to 1.02 million shares from 1.15 million shares the previous day.

Support And Resistance Levels for Waste Connections Inc. (WCN)

According to the 24-hour chart, there is a support level at 141.79, which, if violated, would cause prices to drop to 140.82. In the upper region, resistance lies at 144.62. The next price resistance is at 146.48. RSI (Relative Strength Index) is 51.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 50.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Waste Connections Inc. subject to short interest?

Stocks of Waste Connections Inc. saw a sharp rise in short interest on Aug 30, 2022 jumping by 0.86 million shares to 3.07 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 2.21 million shares. A jump of 28.01% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.21.

Which companies own the most shares of Waste Connections Inc. (WCN)?

In terms of Waste Connections Inc. share price expectations, FactSet research, analysts set an average price target of $153.00 in the next 12 months, up nearly 6.94% from the previous closing price of $144.01. Analysts anticipate Waste Connections Inc. stock to reach $165.00 by 2022, with the lowest price target being $135.00. In spite of this, 19 analysts ranked Waste Connections Inc. stock as an Overweight at the end of 2022. On September 23, 2020, JP Morgan assigned a price target of “an Overweight” to the stock and upgraded coverage with a $108.


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