First Mercantile Trust Co. increased its holdings in shares of Waste Connections Inc (NYSE:WCN) by 15.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,270 shares of the business services provider’s stock after acquiring an additional 979 shares during the quarter. First Mercantile Trust Co.’s holdings in Waste Connections were worth $540,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of WCN. Advisors Asset Management Inc. lifted its position in shares of Waste Connections by 848.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 21,528 shares of the business services provider’s stock worth $350,000 after purchasing an additional 19,259 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Waste Connections by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 337,685 shares of the business services provider’s stock worth $25,420,000 after purchasing an additional 2,539 shares during the last quarter. Northern Trust Corp raised its holdings in Waste Connections by 2.2% in the 2nd quarter. Northern Trust Corp now owns 460,418 shares of the business services provider’s stock valued at $34,660,000 after acquiring an additional 9,705 shares in the last quarter. DNB Asset Management AS raised its holdings in Waste Connections by 8.7% in the 3rd quarter. DNB Asset Management AS now owns 27,167 shares of the business services provider’s stock valued at $2,167,000 after acquiring an additional 2,167 shares in the last quarter. Finally, Rathbone Brothers plc raised its holdings in Waste Connections by 10.3% in the 3rd quarter. Rathbone Brothers plc now owns 395,887 shares of the business services provider’s stock valued at $31,580,000 after acquiring an additional 37,000 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.
Waste Connections stock opened at $84.50 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 39.12, a PEG ratio of 2.52 and a beta of 0.30. Waste Connections Inc has a 12 month low of $65.06 and a 12 month high of $84.71.
Several equities analysts have commented on the company. BMO Capital Markets upped their price target on Waste Connections from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. Goldman Sachs Group raised Waste Connections to a “buy” rating and set a $94.00 price target for the company in a report on Tuesday, December 4th. UBS Group set a $90.00 price target on Waste Connections and gave the company a “buy” rating in a report on Wednesday, October 31st. Zacks Investment Research cut Waste Connections from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Finally, KeyCorp assumed coverage on Waste Connections in a report on Monday. They issued an “overweight” rating and a $94.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $87.40.
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Waste Connections 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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