Waste Connections, Inc. $WCN Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its holdings in Waste Connections, Inc. (NYSE:WCN) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,418 shares of the business services provider’s stock after selling 24,701 shares during the quarter. iA Global Asset Management Inc. owned approximately 0.06% of Waste Connections worth $26,795,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WCN. Integrated Wealth Concepts LLC acquired a new stake in Waste Connections during the 1st quarter valued at $577,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Waste Connections by 7.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,628 shares of the business services provider’s stock valued at $1,378,000 after acquiring an additional 559 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Waste Connections by 153.2% during the second quarter. Farther Finance Advisors LLC now owns 600 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 363 shares during the last quarter. Ballentine Partners LLC increased its position in Waste Connections by 7.0% during the 2nd quarter. Ballentine Partners LLC now owns 1,212 shares of the business services provider’s stock worth $226,000 after purchasing an additional 79 shares in the last quarter. Finally, Palumbo Wealth Management LLC raised its stake in Waste Connections by 133.1% in the 2nd quarter. Palumbo Wealth Management LLC now owns 7,957 shares of the business services provider’s stock valued at $1,484,000 after purchasing an additional 4,543 shares during the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Edward E. Guillet sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $174.44, for a total value of $1,569,960.00. Following the transaction, the director directly owned 14,883 shares in the company, valued at $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 available through this hyperlink. 0.28% of the stock is owned by corporate insiders.

Waste Connections Stock Up 2.2%

Shares of WCN opened at $170.10 on Friday. Waste Connections, Inc. has a fifty-two week low of $162.06 and a fifty-two week high of $201.66. The company’s fifty day moving average is $172.60 and its two-hundred day moving average is $176.40. The firm has a market cap of $43.49 billion, a PE ratio of 70.88, a price-to-earnings-growth ratio of 3.01 and a beta of 0.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on WCN shares. National Bankshares decreased their price target on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Citigroup restated a “neutral” rating and set a $183.00 target price (down previously from $196.00) on shares of Waste Connections in a research report on Friday, January 16th. Stifel Nicolaus cut their price target on Waste Connections from $221.00 to $218.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. CIBC set a $208.00 price target on Waste Connections in a research note on Thursday, January 8th. Finally, UBS Group set a $205.00 price objective on Waste Connections in a research report on Monday, January 5th. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $206.74.

About Waste Connections

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.