Shares of Progressive Waste Solutions Ltd. (NYSE:WCN) were down 2.5% during trading on Tuesday . The company traded as low as $73.53 and last traded at $73.60, with a volume of 657,361 shares traded. The stock had previously closed at $75.45.

A number of analysts recently commented on WCN shares. TD Securities lifted their price objective on Progressive Waste Solutions from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, June 2nd. Credit Suisse Group AG reiterated a “buy” rating on shares of Progressive Waste Solutions in a research report on Sunday, May 29th. Stifel Nicolaus lifted their price objective on Progressive Waste Solutions from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 27th. Wedbush reiterated a “buy” rating on shares of Progressive Waste Solutions in a research report on Saturday, June 4th. Finally, Zacks Investment Research upgraded Progressive Waste Solutions from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, June 29th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Progressive Waste Solutions has an average rating of “Buy” and a consensus target price of $73.24.

The stock has a 50 day moving average of $77.08 and a 200-day moving average of $70.82. The firm’s market cap is $12.88 billion.

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

In related news, COO Darrell W. Chambliss sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $77.42, for a total transaction of $154,840.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Razzouk sold 4,400 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $78.69, for a total value of $346,236.00. Following the transaction, 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. Corporate insiders own 0.68% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 valued at $160,000 after buying an additional 1,544 shares during the last quarter. Invictus RG purchased a new position in shares of Progressive Waste Solutions during the second quarter valued at $208,000. Syntal Capital Partners LLC purchased a new position in shares of Progressive Waste Solutions during the second quarter valued at $215,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of Progressive Waste Solutions during the second quarter valued at $216,000. 82.05% of the stock is currently owned by hedge funds and other institutional investors.

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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