Davis R M Inc. Reduces Holdings in Waste Connections Inc (NYSE:WCN)

Davis R M Inc. trimmed its stake in shares of Waste Connections Inc (NYSE:WCN) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 581,880 shares of the business services provider’s stock after selling 22,492 shares during the quarter. Waste Connections comprises 1.9% of Davis R M Inc.’s holdings, making the stock its 10th biggest position. Davis R M Inc. owned about 0.22% of Waste Connections worth $53,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in WCN. Marshall Wace LLP bought a new stake in shares of Waste Connections in the 1st quarter worth approximately $477,000. First Trust Advisors LP bought a new stake in shares of Waste Connections in the 1st quarter worth approximately $482,000. Dorsey Wright & Associates raised its holdings in shares of Waste Connections by 0.5% in the 2nd quarter. Dorsey Wright & Associates now owns 88,355 shares of the business services provider’s stock worth $8,445,000 after purchasing an additional 463 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of Waste Connections by 13.4% in the 2nd quarter. DNB Asset Management AS now owns 43,339 shares of the business services provider’s stock worth $4,142,000 after purchasing an additional 5,105 shares in the last quarter. Finally, EFG Asset Management Americas Corp. bought a new stake in shares of Waste Connections in the 2nd quarter worth approximately $2,589,000. Institutional investors own 82.53% of the company’s stock.

Shares of WCN opened at $92.28 on Friday. The company’s 50 day moving average price is $91.40 and its 200 day moving average price is $92.52. Waste Connections Inc has a 52 week low of $70.28 and a 52 week high of $97.93. The company has a market capitalization of $24.26 billion, a PE ratio of 36.57, a PEG ratio of 3.07 and a beta of 0.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

Waste Connections (NYSE:WCN) last posted its earnings results on Monday, July 29th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.69. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Waste Connections had a net margin of 10.82% and a return on equity of 10.57%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts forecast that Waste Connections Inc will post 2.66 earnings per share for the current fiscal year.

In other news, VP Matthew Stephen Black sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $91.69, for a total value of $366,760.00. Following the completion of the sale, the vice president now directly owns 23,063 shares in the company, valued at $2,114,646.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael W. Harlan sold 2,038 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $91.43, for a total transaction of $186,334.34. Following the completion of the sale, the director now owns 17,425 shares of the company’s stock, valued at $1,593,167.75. The disclosure for this sale can be found here. Insiders sold 78,638 shares of company stock valued at $7,128,039 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

A number of research firms recently commented on WCN. Oppenheimer reiterated a “market perform” rating on shares of Waste Connections in a report on Thursday, July 18th. Stifel Nicolaus set a $105.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a report on Monday, September 23rd. Royal Bank of Canada set a $100.00 target price on shares of Waste Connections and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Macquarie started coverage on shares of Waste Connections in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $100.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Waste Connections in a research report on Wednesday, August 7th. They issued an “overweight” rating and a $98.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Waste Connections has an average rating of “Buy” and a consensus price target of $96.95.

Waste Connections Profile

Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.

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Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

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