IBM Retirement Fund held its stake in Progressive Waste Solutions Ltd. (NYSE:WCN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,513 shares of the company’s stock at the end of the second quarter. IBM Retirement Fund’s holdings in Progressive Waste Solutions were worth $902,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WCN. Norges Bank purchased a new stake in Progressive Waste Solutions during the fourth quarter valued at $136,717,000. JPMorgan Chase & Co. increased its position in shares of Progressive Waste Solutions by 26.4% in the first quarter. JPMorgan Chase & Co. now owns 8,076,104 shares of the company’s stock valued at $521,634,000 after buying an additional 1,686,028 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Progressive Waste Solutions by 21.2% in the first quarter. Wellington Management Group LLP now owns 5,336,414 shares of the company’s stock valued at $344,679,000 after buying an additional 931,828 shares during the last quarter. State Street Corp increased its position in shares of Progressive Waste Solutions by 21.5% in the first quarter. State Street Corp now owns 3,704,328 shares of the company’s stock valued at $239,269,000 after buying an additional 654,877 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Progressive Waste Solutions by 499.4% in the first quarter. BlackRock Group LTD now owns 406,737 shares of the company’s stock valued at $26,271,000 after buying an additional 338,874 shares during the last quarter. 82.05% of the stock is currently owned by institutional investors.

Shares of Progressive Waste Solutions Ltd. (NYSE:WCN) traded down 1.60% during trading on Friday, hitting $75.49. The stock had a trading volume of 4,282,656 shares. Progressive Waste Solutions Ltd. has a 52-week low of $47.49 and a 52-week high of $79.71. The stock has a 50 day moving average of $76.74 and a 200 day moving average of $69.99. The firm’s market cap is $13.19 billion.

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

Several brokerages have commented on WCN. Royal Bank Of Canada lifted their target price on Progressive Waste Solutions from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. CIBC began coverage on Progressive Waste Solutions in a report on Wednesday, June 1st. They set a “sector outperform” rating on the stock. Gabelli raised Progressive Waste Solutions from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Imperial Capital lifted their target price on Progressive Waste Solutions from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Wedbush reissued a “buy” rating on shares of Progressive Waste Solutions in a research report on Saturday, June 4th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Progressive Waste Solutions currently has a consensus rating of “Buy” and a consensus target price of $73.24.

In other Progressive Waste Solutions news, COO Darrell W. Chambliss sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $11,386,004.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Razzouk sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was 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 owns 12,344 shares of the company’s stock, valued at $971,349.36. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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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