Royce & Associates LP lowered its stake in shares of Progressive Waste Solutions Ltd. (NYSE:WCN) by 65.7% during the second quarter, Holdings Channel reports. The institutional investor owned 7,948 shares of the company’s stock after selling 15,235 shares during the period. Royce & Associates LP’s holdings in Progressive Waste Solutions were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WCN. Bank of Montreal Can acquired a new position in Progressive Waste Solutions during the second quarter worth $207,379,000. Norges Bank acquired a new position in Progressive Waste Solutions during the fourth quarter worth $136,717,000. TD Asset Management Inc. raised its position in Progressive Waste Solutions by 1,270.1% in the second quarter. TD Asset Management Inc. now owns 2,511,687 shares of the company’s stock worth $180,550,000 after buying an additional 2,328,362 shares during the period. JPMorgan Chase & Co. raised its position in Progressive Waste Solutions by 26.4% in the first quarter. JPMorgan Chase & Co. now owns 8,076,104 shares of the company’s stock worth $521,634,000 after buying an additional 1,686,028 shares during the period. Finally, Wellington Management Group LLP raised its position in Progressive Waste Solutions by 21.2% in the first quarter. Wellington Management Group LLP now owns 5,336,414 shares of the company’s stock worth $344,679,000 after buying an additional 931,828 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Shares of Progressive Waste Solutions Ltd. (NYSE:WCN) traded up 1.99% on Wednesday, reaching $75.24. The company had a trading volume of 1,030,167 shares. The stock’s market capitalization is $13.14 billion. Progressive Waste Solutions Ltd. has a 1-year low of $47.49 and a 1-year high of $79.72. The company’s 50 day moving average price is $77.08 and its 200-day moving average price is $70.82.

Progressive Waste Solutions (NYSE:WCN) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.12. Progressive Waste Solutions had a return on equity of 8.84% and a net margin of 4.33%. The company had revenue of $727.60 million for the quarter, compared to analysts’ expectations of $713.58 million. During the same period in the previous year, the firm posted $0.50 EPS. Progressive Waste Solutions’s revenue was up 36.9% compared to the same quarter last year. Equities analysts predict that Progressive Waste Solutions Ltd. will post $2.44 EPS for the current year.

A number of equities analysts have recently weighed in on WCN shares. Zacks Investment Research raised Progressive Waste Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Wednesday, July 20th. BMO Capital Markets raised Progressive Waste Solutions from a “market perform” rating to an “outperform” rating and set a $76.00 price objective for the company in a research note on Thursday, June 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective (up previously from $37.65) on shares of Progressive Waste Solutions in a research note on Friday, June 3rd. TD Securities lowered Progressive Waste Solutions from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research note on Monday, June 13th. Finally, Macquarie started coverage on Progressive Waste Solutions in a research note on Thursday, August 25th. They issued an “outperform” rating and a $89.00 price objective for the company. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Progressive Waste Solutions has an average rating of “Buy” and a consensus target price of $73.24.

In other news, Director William J. Razzouk sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $78.69, for a total transaction of $346,236.00. Following the transaction, the director now directly owns 12,344 shares in the company, valued at approximately $971,349.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Darrell W. Chambliss sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $77.42, for a total value of $154,840.00. Following the transaction, the chief operating officer now owns 147,068 shares in the company, valued at $11,386,004.56. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Progressive Waste Solutions Company Profile

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.

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 Progressive Waste Solutions Ltd. (NYSE:WCN).

Receive News & Ratings for Progressive Waste Solutions Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Waste Solutions Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.