Waste Connections, Inc. (WCN) Shares Bought by Intact Investment Management Inc.
Intact Investment Management Inc. increased its position in shares of Waste Connections, Inc. (NYSE:WCN) by 58.1% during the fourth quarter, Holdings Channel reports. The fund owned 307,582 shares of the company’s stock after buying an additional 113,092 shares during the period. Waste Connections makes up about 1.2% of Intact Investment Management Inc.’s portfolio, making the stock its 24th largest position. Intact Investment Management Inc. owned approximately 0.18% of Waste Connections worth $32,339,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WCN. Pacad Investment Ltd. bought a new position in Waste Connections during the fourth quarter worth $134,000. Strs Ohio bought a new position in Waste Connections during the third quarter worth $187,000. Oppenheimer & Co. Inc. bought a new position in Waste Connections during the third quarter worth $201,000. Invictus RG bought a new position in Waste Connections during the second quarter worth $208,000. Finally, Allianz Asset Management AG bought a new position in Waste Connections during the fourth quarter worth $253,000. Hedge funds and other institutional investors own 85.28% of the company’s stock.
Shares of Waste Connections, Inc. (NYSE:WCN) traded up 0.18% during mid-day trading on Thursday, hitting $82.77. 596,517 shares of the company were exchanged. Waste Connections, Inc. has a 52 week low of $57.32 and a 52 week high of $82.97. The company has a 50 day moving average of $80.27 and a 200 day moving average of $77.10. The company has a market capitalization of $14.47 billion, a P/E ratio of 54.85 and a beta of 0.26.
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A number of research firms have weighed in on WCN. Oppenheimer Holdings, Inc. set a $84.00 target price on shares of Waste Connections and gave the company a “buy” rating in a research note on Friday, January 13th. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Monday, October 31st. RBC Capital Markets reiterated an “outperform” rating and issued a $118.50 target price (up from $113.00) on shares of Waste Connections in a research note on Sunday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $86.00 target price (down from $90.00) on shares of Waste Connections in a research note on Friday, October 21st. Finally, Wedbush boosted their target price on shares of Waste Connections to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, January 4th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Waste Connections has a consensus rating of “Buy” and a consensus price target of $80.81.
In other Waste Connections news, CEO Ronald J. Mittelstaedt sold 9,744 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $80.22, for a total transaction of $781,663.68. Following the completion of the sale, the chief executive officer now directly owns 316,575 shares in the company, valued at approximately $25,395,646.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David Eddie sold 2,962 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $80.24, for a total transaction of $237,670.88. Following the sale, the vice president now owns 88,259 shares of the company’s stock, valued at $7,081,902.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,758 shares of company stock valued at $2,307,365. 0.68% of the stock is owned by company insiders.
About Waste Connections
Waste Connections Inc, formerly Progressive Waste Solutions Ltd, is a Canada-based waste management company. The Company provides waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in over 10 states in the United States, and the District of Columbia, and in over six Canadian provinces.
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