Sumitomo Mitsui Trust Holdings Inc. increased its stake in Progressive Waste Solutions Ltd. (NYSE:WCN) by 52.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 521,402 shares of the company’s stock after buying an additional 179,897 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.42% of Progressive Waste Solutions worth $37,567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. LMR Partners LLP acquired a new stake in shares of Progressive Waste Solutions during the second quarter valued at approximately $17,833,000. A.R.T. Advisors LLC boosted its stake in shares of Progressive Waste Solutions by 33.1% in the first quarter. A.R.T. Advisors LLC now owns 18,893 shares of the company’s stock valued at $1,220,000 after buying an additional 4,700 shares during the last quarter. Barclays PLC boosted its stake in shares of Progressive Waste Solutions by 1,597.6% in the first quarter. Barclays PLC now owns 154,973 shares of the company’s stock valued at $9,919,000 after buying an additional 145,844 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Progressive Waste Solutions by 288.8% in the second quarter. Shell Asset Management Co. now owns 16,433 shares of the company’s stock valued at $1,304,000 after buying an additional 12,206 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Progressive Waste Solutions during the second quarter valued at approximately $207,379,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Institutional Ownership by Quarter for Progressive Waste Solutions (NYSE:WCN)

Shares of Progressive Waste Solutions Ltd. (NYSE:WCN) traded down 0.30% during midday trading on Wednesday, reaching $74.33. 567,191 shares of the company traded hands. The firm’s market capitalization is $12.98 billion. Progressive Waste Solutions Ltd. has a 12-month low of $50.64 and a 12-month high of $79.72. The company has a 50-day moving average of $75.12 and a 200 day moving average of $72.11.

Progressive Waste Solutions (NYSE:WCN) last announced its earnings results on Wednesday, August 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.12. Progressive Waste Solutions had a net margin of 4.33% and a return on equity of 8.84%. The business earned $727.60 million during the quarter, compared to the consensus estimate of $713.58 million. During the same quarter last year, the firm earned $0.50 earnings per share. Progressive Waste Solutions’s quarterly revenue was up 36.9% on a year-over-year basis. On average, equities analysts forecast that Progressive Waste Solutions Ltd. will post $2.44 earnings per share for the current year.

Several brokerages have commented on WCN. Zacks Investment Research cut shares of Progressive Waste Solutions from a “hold” rating to a “sell” rating in a research report on Friday, October 14th. Macquarie started coverage on shares of Progressive Waste Solutions in a research report on Thursday, August 25th. They issued an “outperform” rating and a $89.00 price objective for the company. Gabelli upgraded shares of Progressive Waste Solutions from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. TD Securities restated a “hold” rating and issued a $78.00 price objective on shares of Progressive Waste Solutions in a research report on Wednesday, August 10th. Finally, Barclays PLC upped their price objective on shares of Progressive Waste Solutions from $74.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Progressive Waste Solutions currently has a consensus rating of “Buy” and a consensus price target of $73.18.

In other Progressive Waste Solutions news, COO Darrell W. Chambliss sold 2,000 shares of Progressive Waste Solutions stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $77.42, for a total value of $154,840.00. Following the completion of the sale, the chief operating officer now directly owns 147,068 shares of the company’s stock, valued at $11,386,004.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William J. Razzouk sold 4,400 shares of Progressive Waste Solutions stock in a transaction on 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 of the company’s stock, valued at $971,349.36. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

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

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