Waste Connections, Inc. $WCN Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in Waste Connections, Inc. (NYSE:WCN) by 22.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,067 shares of the business services provider’s stock after selling 4,000 shares during the quarter. QRG Capital Management Inc.’s holdings in Waste Connections were worth $2,473,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Waste Connections during the first quarter valued at approximately $577,000. Swedbank AB boosted its stake in Waste Connections by 6.8% during the 2nd quarter. Swedbank AB now owns 43,582 shares of the business services provider’s stock valued at $8,138,000 after purchasing an additional 2,776 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Waste Connections by 7.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,628 shares of the business services provider’s stock valued at $1,378,000 after purchasing an additional 559 shares during the period. Farther Finance Advisors LLC increased its position in shares of Waste Connections by 153.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 600 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 363 shares during the period. Finally, Avanza Fonder AB raised its stake in shares of Waste Connections by 10.3% in the 2nd quarter. Avanza Fonder AB now owns 23,023 shares of the business services provider’s stock worth $4,299,000 after buying an additional 2,150 shares in the last quarter. 86.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WCN shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $205.00 target price (up previously from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Waste Connections in a report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and set a $220.00 price objective (up previously from $215.00) on shares of Waste Connections in a research report on Wednesday, December 17th. JPMorgan Chase & Co. lowered their price objective on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Citigroup reiterated a “neutral” rating and issued a $183.00 target price (down from $196.00) on shares of Waste Connections in a report on Friday. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $207.05.

Insider Activity at Waste Connections

In related news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $174.44, for a total value of $1,569,960.00. Following the completion of the transaction, the director owned 14,883 shares of the company’s stock, valued at approximately $2,596,190.52. This trade represents a 37.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.28% of the company’s stock.

Waste Connections Trading Down 0.2%

Shares of WCN opened at $167.27 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.07. Waste Connections, Inc. has a 1-year low of $162.06 and a 1-year high of $201.66. The stock has a market capitalization of $42.78 billion, a P/E ratio of 69.70, a P/E/G ratio of 3.02 and a beta of 0.63. The business’s 50-day moving average price is $172.66 and its 200 day moving average price is $176.62.

Waste Connections (NYSE:WCN) last announced its earnings results on Tuesday, October 21st. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.38 by $0.06. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Waste Connections had a net margin of 6.65% and a return on equity of 16.07%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the company posted $1.35 earnings per share. Analysts expect that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

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.