Candriam S.C.A. Cuts Stock Position in Waste Connections, Inc. $WCN

Candriam S.C.A. reduced its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 42.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,550 shares of the business services provider’s stock after selling 68,124 shares during the quarter. Candriam S.C.A.’s holdings in Waste Connections were worth $15,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Waste Connections during the second quarter valued at approximately $755,938,000. Picton Mahoney Asset Management purchased a new position in Waste Connections in the second quarter valued at about $140,935,000. Montrusco Bolton Investments Inc. lifted its position in Waste Connections by 46.6% during 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 acquiring an additional 732,718 shares during the last quarter. CIBC Asset Management Inc boosted 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 acquiring an additional 711,990 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Waste Connections by 14.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,217,973 shares of the business services provider’s stock worth $975,190,000 after purchasing an additional 642,426 shares during the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WCN shares. Stifel Nicolaus lowered their price target on shares of Waste Connections from $221.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. UBS Group set a $205.00 price objective on Waste Connections in a research note on Monday, January 5th. Wells Fargo & Company began coverage on shares of Waste Connections in a research report on Thursday, November 13th. They set an “overweight” rating and a $186.00 price target on the stock. Scotiabank cut their target price on Waste Connections from $210.00 to $204.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane began coverage on Waste Connections in a research report on Tuesday, January 6th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $206.50.

Waste Connections Stock Up 1.5%

Shares of NYSE:WCN opened at $171.76 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.67 and a quick ratio of 0.67. Waste Connections, Inc. has a 1-year low of $162.06 and a 1-year high of $201.66. The firm has a fifty day moving average price of $171.40 and a 200 day moving average price of $175.09. The stock has a market cap of $43.92 billion, a P/E ratio of 71.57, a P/E/G ratio of 3.06 and a beta of 0.62.

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.