Progressive Waste Solutions Ltd. (WCN) Sees Strong Trading Volume
Progressive Waste Solutions Ltd. (NYSE:WCN) saw strong trading volume on Friday . 1,106,032 shares were traded during trading, an increase of 41% from the previous session’s volume of 784,865 shares.The stock last traded at $77.05 and had previously closed at $77.44.
Several research analysts recently issued reports on the stock. Gabelli raised shares of Progressive Waste Solutions from a “hold” rating to a “buy” rating in a report on Friday, August 5th. TD Securities reissued a “hold” rating and set a $78.00 target price on shares of Progressive Waste Solutions in a report on Wednesday, August 10th. Oppenheimer Holdings Inc. raised their target price on shares of Progressive Waste Solutions from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. RBC Capital Markets reissued an “outperform” rating and set a $86.00 target price (up previously from $82.00) on shares of Progressive Waste Solutions in a report on Friday, August 5th. Finally, Macquarie assumed coverage on shares of Progressive Waste Solutions in a report on Thursday. They set an “outperform” rating and a $89.00 target price for the company. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $73.24.
The company has a 50-day moving average price of $75.63 and a 200 day moving average price of $68.94. The stock’s market cap is $13.39 billion.
Progressive Waste Solutions (NYSE:WCN) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.12. During the same quarter in the prior year, the business earned $0.50 EPS. The company earned $727.60 million during the quarter, compared to analysts’ expectations of $713.58 million. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, analysts predict that Progressive Waste Solutions Ltd. will post $2.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Tuesday, August 2nd were issued a $0.145 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Progressive Waste Solutions’s previous quarterly dividend of $0.09.
In related news, VP James Little sold 3,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $70.60, for a total value of $211,800.00. Following the sale, the vice president now directly owns 44,696 shares of the company’s stock, valued at approximately $3,155,537.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William J. Razzouk sold 4,400 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $78.69, for a total transaction of $346,236.00. Following the completion of the sale, the director now directly owns 12,344 shares in the company, valued at $971,349.36. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Progressive Waste Solutions stock. Victory Capital Management Inc. raised its position in shares of Progressive Waste Solutions Ltd. (NYSE:WCN) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,327 shares of the company’s stock after buying an additional 477 shares during the period. Victory Capital Management Inc.’s holdings in Progressive Waste Solutions were worth $1,145,000 at the end of the most recent 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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