Echo Street Capital Management LLC Raises Stake in Waste Connections, Inc. (WCN)

Echo Street Capital Management LLC increased its position in Waste Connections, Inc. (NYSE:WCN) by 304.3% during the third quarter, Holdings Channel reports. The institutional investor owned 138,518 shares of the company’s stock after buying an additional 104,258 shares during the period. Echo Street Capital Management LLC owned approximately 0.08% of Waste Connections worth $10,347,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in WCN. BlackRock Group LTD raised its position in Waste Connections by 10.0% in the third quarter. BlackRock Group LTD now owns 532,022 shares of the company’s stock worth $39,741,000 after buying an additional 48,406 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Waste Connections by 52.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 521,402 shares of the company’s stock worth $37,567,000 after buying an additional 179,897 shares in the last quarter. BlackRock Inc. raised its position in Waste Connections by 2.7% in the third quarter. BlackRock Inc. now owns 100,628 shares of the company’s stock worth $7,517,000 after buying an additional 2,620 shares in the last quarter. Bank of Montreal Can raised its position in Waste Connections by 19.1% in the third quarter. Bank of Montreal Can now owns 3,427,806 shares of the company’s stock worth $256,058,000 after buying an additional 549,552 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Waste Connections by 18.9% in the third quarter. Bank of New York Mellon Corp now owns 245,849 shares of the company’s stock worth $18,366,000 after buying an additional 39,147 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Waste Connections (NYSE:WCN)

Shares of Waste Connections, Inc. (NYSE:WCN) opened at 80.03 on Friday. Waste Connections, Inc. has a 1-year low of $59.92 and a 1-year high of $81.98. The firm has a 50-day moving average of $79.97 and a 200 day moving average of $76.88. The stock has a market capitalization of $13.99 billion, a PE ratio of 53.04 and a beta of 0.26.

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WCN has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Waste Connections from $85.00 to $90.00 and gave the company a “buy” rating in a report on Monday, December 19th. RBC Capital Markets reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Waste Connections in a report on Wednesday, January 4th. Oppenheimer Holdings, Inc. set a $84.00 price objective on Waste Connections and gave the company a “buy” rating in a report on Friday, January 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $86.00 price objective (down previously from $90.00) on shares of Waste Connections in a report on Friday, October 21st. Finally, Zacks Investment Research raised Waste Connections from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Monday, October 31st. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Waste Connections presently has an average rating of “Buy” and a consensus price target of $80.44.

About Waste Connections

Waste Connections Inc, formerly Progressive Waste Solutions Ltd, is a Canada-based waste management company. The Company provides waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in over 10 states in the United States, and the District of Columbia, and in over six Canadian provinces.

5 Day Chart for NYSE:WCN

Want to see what other hedge funds are holding WCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Connections, Inc. (NYSE:WCN).

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