WCM Investment Management LLC Sells 1,327,001 Shares of Waste Connections, Inc. (NYSE:WCN)

WCM Investment Management LLC decreased its position in Waste Connections, Inc. (NYSE:WCN) by 17.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,365,380 shares of the business services provider’s stock after selling 1,327,001 shares during the quarter. Waste Connections comprises approximately 2.6% of WCM Investment Management LLC’s portfolio, making the stock its 12th largest holding. WCM Investment Management LLC’s holdings in Waste Connections were worth $1,089,562,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC bought a new position in Waste Connections during the third quarter valued at about $36,000. FSA Wealth Management LLC purchased a new stake in Waste Connections during the third quarter valued at about $40,000. Asset Dedication LLC purchased a new stake in Waste Connections during the third quarter valued at about $41,000. Continuum Advisory LLC lifted its holdings in Waste Connections by 58.0% during the third quarter. Continuum Advisory LLC now owns 226 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 83 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in Waste Connections during the third quarter valued at about $47,000. Institutional investors own 86.09% of the company’s stock.

Waste Connections Stock Performance

Shares of WCN stock opened at $190.33 on Friday. The stock has a fifty day moving average of $179.50 and a 200 day moving average of $181.22. Waste Connections, Inc. has a 52 week low of $153.07 and a 52 week high of $194.83. The firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 2.97 and a beta of 0.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.99.

Analyst Upgrades and Downgrades

WCN has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of Waste Connections from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Morgan Stanley increased their price target on shares of Waste Connections from $206.00 to $214.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Citigroup increased their price target on shares of Waste Connections from $195.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada increased their price target on shares of Waste Connections from $199.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Waste Connections from $198.00 to $197.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.06.

Waste Connections Company Profile

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (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.