Waste Connections, Inc. $WCN Shares Sold by Resona Asset Management Co. Ltd.

by · The Cerbat Gem

Resona Asset Management Co. Ltd. decreased its position in shares of Waste Connections, Inc. (NYSE:WCN – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,634 shares of the business services provider’s stock after selling 4,115 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Waste Connections were worth $16,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in WCN. Norges Bank acquired a new stake in shares of Waste Connections in the 2nd quarter valued at about $755,938,000. Picton Mahoney Asset Management acquired a new position in Waste Connections during the second quarter worth approximately $140,935,000. Montrusco Bolton Investments Inc. lifted its stake in Waste Connections by 46.6% in the second quarter. Montrusco Bolton Investments Inc. now owns 2,306,702 shares of the business services provider’s stock valued at $419,451,000 after buying an additional 732,718 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Waste Connections by 14.0% in the second quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock valued at $975,190,000 after acquiring an additional 642,426 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 during the period. 86.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WCN shares. Oppenheimer reaffirmed an “outperform” rating and issued a $205.00 target price (down from $206.00) on shares of Waste Connections in a report on Friday. UBS Group set a $205.00 price objective on shares of Waste Connections in a research report on Monday, January 5th. Wells Fargo & Company began coverage on shares of Waste Connections in a report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 target price for the company. National Bankshares decreased their target price on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Finally, CIBC set a $208.00 price target on Waste Connections in a report on Thursday, January 8th. Five analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Waste Connections has a consensus rating of “Buy” and an average price target of $206.68.

Read Our Latest Research Report on WCN

Waste Connections Stock Up 0.1%

Shares of NYSE:WCN opened at $170.25 on Monday. Waste Connections, Inc. has a fifty-two week low of $162.06 and a fifty-two week high of $201.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $172.63 and its 200-day simple moving average is $176.24. The company has a market cap of $43.53 billion, a price-to-earnings ratio of 70.94, a PEG ratio of 3.08 and a beta of 0.63.

Insider Transactions at Waste Connections

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

Waste Connections Company Profile

(Free Report)

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.

See Also

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