Davis R M Inc. Decreases Stake in Waste Connections Inc (WCN)

Davis R M Inc. cut its position in shares of Waste Connections Inc (NYSE:WCN) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 774,709 shares of the business services provider’s stock after selling 42,253 shares during the quarter. Waste Connections comprises about 2.2% of Davis R M Inc.’s holdings, making the stock its 3rd largest position. Davis R M Inc. owned 0.29% of Waste Connections worth $61,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Zions Bancorporation acquired a new stake in Waste Connections in the second quarter worth $178,000. Jaffetilchin Investment Partners LLC acquired a new stake in Waste Connections in the second quarter worth $203,000. Nisa Investment Advisors LLC acquired a new stake in Waste Connections in the third quarter worth $204,000. Trexquant Investment LP acquired a new stake in Waste Connections in the second quarter worth $216,000. Finally, Cumberland Partners Ltd acquired a new stake in Waste Connections in the second quarter worth $236,000. Institutional investors own 81.86% of the company’s stock.

Shares of NYSE WCN traded down $0.40 during mid-day trading on Wednesday, reaching $77.46. 621,000 shares of the company’s stock traded hands, compared to its average volume of 733,464. The stock has a market capitalization of $21.02 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.73 and a beta of 0.05. Waste Connections Inc has a 1-year low of $65.06 and a 1-year high of $81.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.15 and a quick ratio of 1.15.

Waste Connections (NYSE:WCN) last issued its quarterly earnings data on Tuesday, July 24th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Waste Connections had a net margin of 14.80% and a return on equity of 9.90%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts anticipate that Waste Connections Inc will post 2.5 earnings per share for the current fiscal year.

In related news, Director Michael W. Harlan sold 11,900 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $79.30, for a total transaction of $943,670.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Darrell W. Chambliss sold 6,485 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $80.00, for a total transaction of $518,800.00. The disclosure for this sale can be found here. Insiders have sold 38,385 shares of company stock valued at $3,063,670 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Saturday. Royal Bank of Canada raised their price target on shares of Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. TD Securities raised their price target on shares of Waste Connections from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 26th. Citigroup raised their price target on shares of Waste Connections from $80.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, BMO Capital Markets raised their price target on shares of Waste Connections from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, June 29th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $83.00.

Waste Connections Company Profile

Waste Connections, Inc, a solid waste services company, 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, office 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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