Red Spruce Capital LLC Sells 511 Shares of Waste Connections, Inc. (NYSE:WCN)

Red Spruce Capital LLC cut its stake in shares of Waste Connections, Inc. (NYSE:WCN) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,716 shares of the business services provider’s stock after selling 511 shares during the period. Red Spruce Capital LLC’s holdings in Waste Connections were worth $981,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atomi Financial Group Inc. increased its position in shares of Waste Connections by 39.1% during the 4th quarter. Atomi Financial Group Inc. now owns 3,485 shares of the business services provider’s stock valued at $598,000 after purchasing an additional 980 shares during the last quarter. Perpetual Ltd increased its holdings in Waste Connections by 16.0% during the fourth quarter. Perpetual Ltd now owns 69,888 shares of the business services provider’s stock valued at $11,991,000 after buying an additional 9,632 shares during the last quarter. Addenda Capital Inc. boosted its stake in shares of Waste Connections by 9.2% during the 4th quarter. Addenda Capital Inc. now owns 208,978 shares of the business services provider’s stock worth $35,856,000 after acquiring an additional 17,545 shares during the last quarter. Mechanics Bank Trust Department bought a new stake in shares of Waste Connections during the 4th quarter valued at $353,000. Finally, Oak Ridge Investments LLC increased its stake in shares of Waste Connections by 1.2% in the 4th quarter. Oak Ridge Investments LLC now owns 15,223 shares of the business services provider’s stock worth $2,612,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 86.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WCN. Stifel Nicolaus boosted their price objective on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Scotiabank initiated coverage on shares of Waste Connections in a research note on Friday, October 4th. They set a “sector perform” rating and a $196.00 target price on the stock. Oppenheimer upped their target price on shares of Waste Connections from $192.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. CIBC lowered their price objective on Waste Connections from $215.00 to $212.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, BMO Capital Markets cut their target price on Waste Connections from $198.00 to $196.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Waste Connections Price Performance

NYSE:WCN opened at $178.88 on Wednesday. The firm has a market capitalization of $46.16 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 2.67 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50 day simple moving average of $180.96 and a 200-day simple moving average of $180.86. Waste Connections, Inc. has a 1 year low of $151.32 and a 1 year high of $194.83.

Waste Connections (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Waste Connections had a net margin of 10.81% and a return on equity of 15.43%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. Equities analysts forecast that Waste Connections, Inc. will post 4.84 EPS for the current year.

About Waste Connections

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.