Waste Connections, Inc. $WCN Stock Holdings Reduced by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. cut its stake in Waste Connections, Inc. (NYSE:WCN) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 744,195 shares of the business services provider’s stock after selling 230,635 shares during the period. Waste Connections accounts for about 1.8% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 22nd largest position. Montrusco Bolton Investments Inc.’s holdings in Waste Connections were worth $114,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Waste Connections by 1.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,312 shares of the business services provider’s stock valued at $701,000 after purchasing an additional 65 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Waste Connections by 2.0% during the second quarter. GAMMA Investing LLC now owns 5,030 shares of the business services provider’s stock worth $838,000 after buying an additional 99 shares during the period. Athena Wealth Management LLC lifted its stake in shares of Waste Connections by 6.7% during the third quarter. Athena Wealth Management LLC now owns 1,829 shares of the business services provider’s stock worth $282,000 after buying an additional 115 shares during the period. Private Advisor Group LLC grew its holdings in shares of Waste Connections by 9.2% during the first quarter. Private Advisor Group LLC now owns 1,519 shares of the business services provider’s stock valued at $247,000 after buying an additional 128 shares during the last quarter. Finally, LifeGoal Investments LLC grew its holdings in shares of Waste Connections by 8.1% during the third quarter. LifeGoal Investments LLC now owns 1,779 shares of the business services provider’s stock valued at $274,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WCN shares. Morgan Stanley cut their target price on Waste Connections from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Waste Connections from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. UBS Group upgraded Waste Connections from a “neutral” rating to a “buy” rating and boosted their price target for the company from $176.00 to $200.00 in a research note on Friday, September 18th. Wolfe Research assumed coverage on Waste Connections in a research note on Tuesday, September 15th. They set an “outperform” rating and a $204.00 price target on the stock. Finally, Raymond James Financial set a $189.00 price objective on Waste Connections in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.22.

Insider Buying and Selling at Waste Connections

In other Waste Connections news, SVP Philip Rivard sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $166.57, for a total value of $416,425.00. Following the sale, the senior vice president directly owned 734 shares of the company’s stock, valued at approximately $122,262.38. This represents a 77.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Cloninger sold 2,811 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $171.02, for a total value of $480,737.22. Following the sale, the senior vice president directly owned 11,666 shares in the company, valued at $1,995,119.32. This represents a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by corporate insiders.

Waste Connections Stock Performance

NYSE WCN traded down $0.04 on Tuesday, hitting $153.67. 1,574,664 shares of the company’s stock traded hands, compared to its average volume of 1,539,149. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.17. Waste Connections, Inc. has a 1-year low of $146.89 and a 1-year high of $179.74. The firm’s 50-day moving average price is $161.24 and its two-hundred day moving average price is $161.25. The firm has a market capitalization of $38.57 billion, a PE ratio of 37.03, a P/E/G ratio of 2.62 and a beta of 0.49.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.35 by $0.15. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. Waste Connections had a net margin of 10.86% and a return on equity of 17.31%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. As a group, analysts expect that Waste Connections, Inc. will post 5.63 EPS for the current year.

Waste Connections Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.40 dividend on an annualized basis and a yield of 0.9%. Waste Connections’s payout ratio is currently 33.73%.

About Waste Connections

Waste Connections, Inc is a North American provider of solid waste collection, transfer, disposal, recycling and resource recovery services. The company serves residential, commercial, industrial and construction customers through local operations and provides services under municipal and other contracted arrangements.

Its business includes curbside and commercial waste collection, transfer stations, solid waste landfills, recycling facilities and organics processing. Waste Connections also provides environmental services for energy-producing customers, including the management and disposal of non-hazardous oilfield waste, and operates resource recovery and renewable energy projects in connection with certain waste facilities.

Founded in 1997, Waste Connections serves communities across the United States and Canada.