Victory Capital Management Inc. raised its stake in Progressive Waste Solutions Ltd. (NYSE:WCN) by 127.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 609,934 shares of the company’s stock after buying an additional 341,694 shares during the period. Victory Capital Management Inc. owned about 0.35% of Progressive Waste Solutions worth $45,562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mizuho Asset Management Co. Ltd. purchased a new stake in Progressive Waste Solutions during the second quarter valued at about $120,000. Creative Planning increased its stake in Progressive Waste Solutions by 228.7% in the second quarter. Creative Planning now owns 2,219 shares of the company’s stock valued at $160,000 after buying an additional 1,544 shares during the period. Strs Ohio purchased a new stake in Progressive Waste Solutions during the third quarter valued at about $187,000. Invictus RG purchased a new stake in Progressive Waste Solutions during the second quarter valued at about $208,000. Finally, Syntal Capital Partners LLC purchased a new stake in Progressive Waste Solutions during the second quarter valued at about $215,000. Institutional investors own 83.99% 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 0.09% during midday trading on Wednesday, hitting $76.88. The company had a trading volume of 34,934 shares. Progressive Waste Solutions Ltd. has a 52 week low of $50.64 and a 52 week high of $79.72. The company has a market capitalization of $13.44 billion, a P/E ratio of 50.95 and a beta of 0.35. The firm’s 50 day moving average is $74.98 and its 200 day moving average is $74.07.

Progressive Waste Solutions (NYSE:WCN) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company earned $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. Progressive Waste Solutions had a return on equity of 8.53% and a net margin of 5.77%. The firm’s quarterly revenue was up 98.0% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. Equities research analysts anticipate that Progressive Waste Solutions Ltd. will post $2.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Monday, November 7th were given a dividend of $0.18 per share. This is an increase from Progressive Waste Solutions’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 0.94%. Progressive Waste Solutions’s dividend payout ratio (DPR) is presently 47.04%.

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Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $86.00 price objective (down from $90.00) on shares of Progressive Waste Solutions in a report on Friday, October 21st. 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 report on Thursday, October 6th. Macquarie assumed coverage on Progressive Waste Solutions in a report on Thursday, August 25th. They issued an “outperform” rating and a $89.00 price objective for the company. Imperial Capital lifted their price objective on Progressive Waste Solutions from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective (up from $77.00) on shares of Progressive Waste Solutions in a report on Friday, August 5th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $78.79.

In other Progressive Waste Solutions news, insider James Little sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $74.15, for a total transaction of $148,300.00. Following the sale, the insider now owns 42,696 shares in the company, valued at $3,165,908.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Progressive Waste Solutions Company Profile

Waste Connections Inc, formerly Progressive Waste Solutions Ltd, is a Canada-based waste management company. The Company provides waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in over 10 states in the United States, and the District of Columbia, and in over six Canadian provinces.

5 Day Chart for NYSE:WCN

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