Allianz Asset Management GmbH Sells 16,141 Shares of Waste Connections, Inc. $WCN

Allianz Asset Management GmbH decreased its position in Waste Connections, Inc. (NYSE:WCN) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 486,534 shares of the business services provider’s stock after selling 16,141 shares during the quarter. Allianz Asset Management GmbH’s holdings in Waste Connections were worth $85,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WCN. Asset Dedication LLC bought a new stake in shares of Waste Connections in the second quarter worth about $28,000. Greykasell Wealth Strategies Inc. grew its position in shares of Waste Connections by 555.2% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 190 shares of the business services provider’s stock worth $33,000 after buying an additional 161 shares during the last quarter. AlphaCore Capital LLC bought a new stake in shares of Waste Connections in the 2nd quarter worth approximately $39,000. Caldwell Trust Co purchased a new position in shares of Waste Connections during the second quarter valued at approximately $49,000. Finally, Trust Co. of Toledo NA OH bought a new position in shares of Waste Connections during the second quarter valued at approximately $51,000. 86.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WCN. Wells Fargo & Company began coverage on shares of Waste Connections in a report on Thursday, November 13th. They issued an “overweight” rating and a $186.00 price target on the stock. Barclays restated a “negative” rating on shares of Waste Connections in a report on Thursday, October 23rd. BNP Paribas Exane began coverage on shares of Waste Connections in a research note on Tuesday, January 6th. They set an “outperform” rating on the stock. National Bankshares decreased their price target on shares of Waste Connections from $211.00 to $196.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $205.00 target price (down previously from $206.00) on shares of Waste Connections in a research report on Friday, January 23rd. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $206.50.

Waste Connections Price Performance

Shares of WCN opened at $166.06 on Wednesday. Waste Connections, Inc. has a fifty-two week low of $162.06 and a fifty-two week high of $201.66. The firm’s 50-day simple moving average is $171.90 and its two-hundred day simple moving average is $175.52. The stock has a market cap of $42.45 billion, a PE ratio of 69.19, a price-to-earnings-growth ratio of 3.04 and a beta of 0.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.67 and a current ratio of 0.67.

About Waste Connections

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.