James Little Sells 2,000 Shares of Progressive Waste Solutions Ltd. (WCN) Stock
Progressive Waste Solutions Ltd. (NYSE:WCN) insider James Little sold 2,000 shares of Progressive Waste Solutions stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $74.15, for a total value of $148,300.00. Following the sale, the insider now owns 42,696 shares of the company’s stock, valued at approximately $3,165,908.40. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Progressive Waste Solutions Ltd. (NYSE:WCN) opened at 76.86 on Thursday. Progressive Waste Solutions Ltd. has a 52-week low of $50.64 and a 52-week high of $79.72. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of 50.93 and a beta of 0.35. The company’s 50 day moving average price is $74.35 and its 200 day moving average price is $73.28.
Progressive Waste Solutions (NYSE:WCN) last issued its earnings results on Wednesday, October 26th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. Progressive Waste Solutions had a return on equity of 8.53% and a net margin of 5.77%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.54 EPS. The business’s revenue was up 98.0% compared to the same quarter last year. Analysts forecast that Progressive Waste Solutions Ltd. will post $2.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Shareholders of record on Monday, November 7th will be given a $0.18 dividend. This is a positive change from Progressive Waste Solutions’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 3rd. Progressive Waste Solutions’s dividend payout ratio is presently 47.04%.
A number of research firms recently commented on WCN. Barclays PLC lifted their price objective on Progressive Waste Solutions from $74.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. BMO Capital Markets reiterated an “outperform” rating and set a $76.00 price objective on shares of Progressive Waste Solutions in a research report on Friday, July 15th. Goldman Sachs Group Inc. initiated coverage on Progressive Waste Solutions in a report on Tuesday, November 1st. They issued a “buy” rating and a $90.00 price target for the company. Oppenheimer Holdings Inc. lifted their price target on Progressive Waste Solutions from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Royal Bank Of Canada lifted their price target on Progressive Waste Solutions from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Progressive Waste Solutions currently has a consensus rating of “Buy” and an average target price of $78.79.
A number of hedge funds and other institutional investors have recently modified their holdings of WCN. Mizuho Asset Management Co. Ltd. purchased a new position in shares of Progressive Waste Solutions during the second quarter valued at $120,000. Creative Planning raised its position in shares of Progressive Waste Solutions by 228.7% in the second quarter. Creative Planning now owns 2,219 shares of the company’s stock worth $160,000 after buying an additional 1,544 shares in the last quarter. American International Group Inc. bought a new position in shares of Progressive Waste Solutions during the third quarter worth approximately $185,000. Strs Ohio bought a new position in shares of Progressive Waste Solutions during the third quarter worth approximately $187,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Progressive Waste Solutions during the third quarter worth approximately $201,000. 82.42% of the stock is currently owned by institutional investors.
About Progressive Waste Solutions
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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