Envestnet Asset Management Inc. Increases Stock Position in Waste Connections, Inc. $WCN

Envestnet Asset Management Inc. boosted its position in Waste Connections, Inc. (NYSE:WCN) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 483,286 shares of the business services provider’s stock after acquiring an additional 15,737 shares during the period. Envestnet Asset Management Inc.’s holdings in Waste Connections were worth $84,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Calamos Wealth Management LLC bought a new position in shares of Waste Connections in the 2nd quarter worth about $2,055,000. Cidel Asset Management Inc. boosted its stake in Waste Connections by 3.3% during the second quarter. Cidel Asset Management Inc. now owns 136,991 shares of the business services provider’s stock worth $25,539,000 after acquiring an additional 4,340 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Waste Connections by 55.7% in the third quarter. CIBC Asset Management Inc now owns 1,991,112 shares of the business services provider’s stock worth $350,603,000 after purchasing an additional 711,990 shares during the period. Fisher Funds Management LTD increased its stake in shares of Waste Connections by 51.2% during the third quarter. Fisher Funds Management LTD now owns 88,336 shares of the business services provider’s stock valued at $15,529,000 after purchasing an additional 29,925 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Waste Connections by 2.3% in the 3rd quarter. National Pension Service now owns 385,446 shares of the business services provider’s stock worth $67,761,000 after purchasing an additional 8,725 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WCN shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $205.00 price objective (up previously from $200.00) on shares of Waste Connections in a research report on Monday, January 5th. Oppenheimer reissued an “outperform” rating and issued a $205.00 target price (down from $206.00) on shares of Waste Connections in a research note on Friday, January 23rd. Wells Fargo & Company initiated coverage on Waste Connections in a report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target for the company. Barclays reiterated a “negative” rating on shares of Waste Connections in a research note on Thursday, October 23rd. Finally, Canadian Imperial Bank of Commerce set a $208.00 price objective on shares of Waste Connections in a research note on Thursday, January 8th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $206.50.

Waste Connections Trading Up 0.1%

Waste Connections stock opened at $169.34 on Friday. Waste Connections, Inc. has a one year low of $162.06 and a one year high of $201.66. The business’s fifty day moving average is $171.45 and its 200 day moving average is $175.27. The stock has a market capitalization of $43.30 billion, a PE ratio of 70.56, a price-to-earnings-growth ratio of 3.06 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67.

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.