Topic: How To Invest

Pat: What is your current advice on Progressive Waste Solutions? I would like to know if you see it as a buy.

Article Excerpt

Progressive Waste Solutions, $23.80, symbol BIN on Toronto (Shares outstanding: 115.2 million; Market cap: $2.7 billion; www.progressivewaste.com), changed its name from IESI-BFC in May 2011. IESI-BFC was called BFI Canada until June 1, 2009, when it merged with its wholly owned subsidiary, IESI-BFC Ltd. In Canada, the company mainly operates as Progressive Waste Solutions, BFI Canada and Waste Services Inc. (WSI). It uses the Progressive Waste Solutions, IESI and WSI banners in the U.S. Progressive is one of North America’s largest solid-waste-management companies. However, it does not manage, collect or dispose of hazardous or liquid waste. Instead, it collects and disposes of waste from over four million commercial, industrial, municipal and residential customers. Progressive gets 63% of its revenue from the U.S. and 37% from Canada. In total, the company operates 126 waste-collection facilities, 30 landfills, 67 transfer-collection stations and 49 material-recovery plants. Progressive continues to grow by acquisition. In 2012, it bought 19 companies for a total of $308.3 million. Most…