Hexavest Inc. Sells 65,491 Shares of Waste Connections Inc (NYSE:WCN)

Hexavest Inc. trimmed its holdings in shares of Waste Connections Inc (NYSE:WCN) by 89.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,979 shares of the business services provider’s stock after selling 65,491 shares during the quarter. Hexavest Inc.’s holdings in Waste Connections were worth $827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Allworth Financial LP grew its position in Waste Connections by 2.8% during the second quarter. Allworth Financial LP now owns 3,657 shares of the business services provider’s stock valued at $343,000 after buying an additional 100 shares during the period. Steward Partners Investment Advisory LLC grew its position in Waste Connections by 27.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 467 shares of the business services provider’s stock valued at $44,000 after buying an additional 100 shares during the period. Stephenson National Bank & Trust grew its position in Waste Connections by 10.3% during the second quarter. Stephenson National Bank & Trust now owns 1,650 shares of the business services provider’s stock valued at $155,000 after buying an additional 154 shares during the period. Flagship Harbor Advisors LLC grew its position in Waste Connections by 15.4% during the second quarter. Flagship Harbor Advisors LLC now owns 1,251 shares of the business services provider’s stock valued at $117,000 after buying an additional 167 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in Waste Connections by 3.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,117 shares of the business services provider’s stock valued at $478,000 after buying an additional 183 shares during the period. Institutional investors own 80.77% of the company’s stock.

Shares of WCN opened at $104.77 on Thursday. Waste Connections Inc has a twelve month low of $70.87 and a twelve month high of $106.09. The company has a market cap of $27.54 billion, a P/E ratio of 134.32, a P/E/G ratio of 4.87 and a beta of 0.47. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73. The company’s fifty day simple moving average is $101.63 and its 200-day simple moving average is $94.68.

Waste Connections (NYSE:WCN) last announced its earnings results on Thursday, August 6th. The business services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Waste Connections had a net margin of 3.83% and a return on equity of 10.44%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts predict that Waste Connections Inc will post 2.47 earnings per share for the current fiscal year.

A number of research firms have weighed in on WCN. JPMorgan Chase & Co. upgraded shares of Waste Connections from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $103.00 to $108.00 in a research report on Wednesday, September 23rd. Stifel Nicolaus upped their price target on shares of Waste Connections from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Morgan Stanley began coverage on shares of Waste Connections in a research report on Tuesday. They issued an “overweight” rating and a $120.00 price target for the company. UBS Group upped their price target on shares of Waste Connections from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Raymond James boosted their target price on shares of Waste Connections from $114.00 to $116.00 and gave the stock a “strong-buy” rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $109.93.

In other news, VP James Little sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $101.95, for a total value of $509,750.00. Following the transaction, the vice president now directly owns 22,014 shares in the company, valued at $2,244,327.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Ronald J. Mittelstaedt sold 48,814 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $100.19, for a total transaction of $4,890,674.66. Following the completion of the transaction, the chairman now owns 142,811 shares in the company, valued at $14,308,234.09. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Waste Connections Company 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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