Progressive Waste Solutions Ltd. (WCN) Sets New 52-Week High at $74.53
Progressive Waste Solutions Ltd. (NYSE:WCN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $74.53 and last traded at $74.44, with a volume of 840,284 shares changing hands. The stock had previously closed at $74.00.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Progressive Waste Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Wedbush restated a “buy” rating on shares of Progressive Waste Solutions in a research note on Saturday, April 30th. Royal Bank Of Canada boosted their target price on Progressive Waste Solutions from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 1st. Stifel Nicolaus boosted their target price on Progressive Waste Solutions from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Progressive Waste Solutions in a research note on Sunday, May 29th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $69.81.
The firm’s market cap is $9.14 billion. The firm has a 50-day moving average price of $72.51 and a 200 day moving average price of $65.89.
Progressive Waste Solutions (NYSE:WCN) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The business earned $471.40 million during the quarter, compared to analysts’ expectations of $459.16 million. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. On average, equities research analysts expect that Progressive Waste Solutions Ltd. will post $2.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Tuesday, August 2nd will be issued a dividend of $0.145 per share. This is a positive change from Progressive Waste Solutions’s previous quarterly dividend of $0.09. This represents a $0.58 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, July 28th.
In other Progressive Waste Solutions news, VP James Little sold 3,000 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $70.60, for a total transaction of $211,800.00. Following the transaction, the vice president now owns 44,696 shares of the company’s stock, valued at approximately $3,155,537.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Patrick James Shea sold 5,000 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $73.05, for a total value of $365,250.00. Following the transaction, the vice president now directly owns 44,219 shares in the company, valued at approximately $3,230,197.95. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Progressive Waste Solutions by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 20,327 shares of the company’s stock worth $1,145,000 after buying an additional 477 shares in the last quarter. Bank of Montreal Can increased its position in Progressive Waste Solutions by 11.8% in the fourth quarter. Bank of Montreal Can now owns 23,304 shares of the company’s stock worth $1,312,000 after buying an additional 2,465 shares in the last quarter. GSA Capital Partners LLP increased its position in Progressive Waste Solutions by 479.1% in the fourth quarter. GSA Capital Partners LLP now owns 24,900 shares of the company’s stock worth $1,402,000 after buying an additional 20,600 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Progressive Waste Solutions during the fourth quarter worth approximately $1,794,000. Finally, Russell Frank Co increased its position in Progressive Waste Solutions by 1.1% in the fourth quarter. Russell Frank Co now owns 98,700 shares of the company’s stock worth $5,601,000 after buying an additional 1,117 shares in the last quarter.
Waste Connections, Inc is an integrated municipal solid waste (MSW) services company. The Company provides solid waste collection, transfer, disposal and recycling services in the United States. The Company is a provider of non-hazardous exploration and production (E&P), waste treatment, recovery and disposal services in various areas of the United States.
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