WCM Investment Management LLC Reduces Stock Position in Waste Connections, Inc. $WCN

WCM Investment Management LLC trimmed its holdings in Waste Connections, Inc. (NYSE:WCN) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,462,113 shares of the business services provider’s stock after selling 39,606 shares during the period. Waste Connections comprises approximately 2.3% of WCM Investment Management LLC’s holdings, making the stock its 17th largest holding. WCM Investment Management LLC owned about 2.52% of Waste Connections worth $1,126,346,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WCN. Vanguard Group Inc. raised its holdings in Waste Connections by 2.1% in the second quarter. Vanguard Group Inc. now owns 30,867,844 shares of the business services provider’s stock valued at $5,764,546,000 after acquiring an additional 620,600 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Waste Connections by 14.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock worth $975,190,000 after acquiring an additional 642,426 shares in the last quarter. Norges Bank bought a new stake in shares of Waste Connections in the 2nd quarter worth about $755,938,000. 1832 Asset Management L.P. raised its stake in shares of Waste Connections by 3.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 3,995,575 shares of the business services provider’s stock valued at $746,054,000 after purchasing an additional 132,455 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Waste Connections by 3.2% during the second quarter. TD Asset Management Inc now owns 3,942,989 shares of the business services provider’s stock worth $735,169,000 after purchasing an additional 123,730 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.

Waste Connections Price Performance

Shares of WCN opened at $168.14 on Tuesday. Waste Connections, Inc. has a 12 month low of $162.06 and a 12 month high of $201.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a fifty day moving average price of $172.11 and a 200 day moving average price of $175.63. The company has a market cap of $42.99 billion, a P/E ratio of 70.06, a PEG ratio of 3.03 and a beta of 0.62.

Analyst Ratings Changes

Several brokerages recently weighed in on WCN. Citigroup reissued a “neutral” rating and issued a $183.00 price objective (down from $196.00) on shares of Waste Connections in a report on Friday, January 16th. Barclays reiterated a “negative” rating on shares of Waste Connections in a report on Thursday, October 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $205.00 price objective (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. JPMorgan Chase & Co. decreased their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Finally, Oppenheimer reissued an “outperform” rating and set a $205.00 target price (down from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $206.50.

Waste Connections Company Profile

Waste Connections (NYSE: WCN) is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company’s operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.