Oppenheimer Asset Management Inc. Raises Stake in Waste Connections, Inc. $WCN

Oppenheimer Asset Management Inc. grew its position in Waste Connections, Inc. (NYSE:WCN) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,777 shares of the business services provider’s stock after purchasing an additional 3,313 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Waste Connections were worth $9,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in Waste Connections by 88.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 784 shares of the business services provider’s stock worth $137,000 after buying an additional 368 shares during the period. Appleton Partners Inc. MA lifted its position in shares of Waste Connections by 2.9% in the third quarter. Appleton Partners Inc. MA now owns 51,268 shares of the business services provider’s stock valued at $9,013,000 after acquiring an additional 1,463 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Waste Connections by 6.5% in the third quarter. Bessemer Group Inc. now owns 16,125 shares of the business services provider’s stock worth $2,835,000 after acquiring an additional 987 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Waste Connections by 3.4% during the third quarter. Envestnet Asset Management Inc. now owns 483,286 shares of the business services provider’s stock worth $84,967,000 after purchasing an additional 15,737 shares in the last quarter. Finally, AGF Management Ltd. raised its stake in Waste Connections by 32.2% during the 3rd quarter. AGF Management Ltd. now owns 861,240 shares of the business services provider’s stock valued at $151,405,000 after purchasing an additional 209,644 shares during the period. 86.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on WCN shares. Sanford C. Bernstein restated an “outperform” rating and issued a $205.00 price target (up from $200.00) on shares of Waste Connections in a research note on Monday, January 5th. Morgan Stanley restated an “overweight” rating and set a $220.00 target price (up previously from $215.00) on shares of Waste Connections in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of Waste Connections from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Oppenheimer reissued an “outperform” rating and set a $205.00 price objective (down previously from $206.00) on shares of Waste Connections in a report on Friday, January 23rd. Finally, The Goldman Sachs Group assumed coverage on Waste Connections in a research report on Monday, November 24th. They set a “buy” rating and a $202.00 price objective for the company. Five 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 stock. According to MarketBeat, Waste Connections has an average rating of “Buy” and an average price target of $206.50.

Waste Connections Stock Performance

Waste Connections stock opened at $171.76 on Tuesday. The company’s 50-day moving average price is $171.40 and its 200-day moving average price is $175.09. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.07. The company has a market cap of $43.92 billion, a PE ratio of 71.57, a price-to-earnings-growth ratio of 3.06 and a beta of 0.62. Waste Connections, Inc. has a twelve month low of $162.06 and a twelve month high of $201.66.

Waste Connections Company Profile

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.