L & S Advisors Inc reduced its position in Waste Management, Inc. (NYSE:WM) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,277 shares of the business services provider’s stock after selling 1,745 shares during the period. Waste Management comprises about 1.1% of L & S Advisors Inc’s holdings, making the stock its 15th largest position. L & S Advisors Inc’s holdings in Waste Management were worth $8,108,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of WM. BlackRock Inc. lifted its position in shares of Waste Management by 3.1% in the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after acquiring an additional 976,898 shares during the period. Geode Capital Management LLC raised its holdings in shares of Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after buying an additional 326,408 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Waste Management by 0.6% in the 2nd quarter. Northern Trust Corp now owns 5,126,154 shares of the business services provider’s stock worth $591,404,000 after buying an additional 29,757 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Waste Management by 10.2% in the 2nd quarter. APG Asset Management N.V. now owns 3,187,237 shares of the business services provider’s stock worth $322,894,000 after buying an additional 294,177 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Waste Management by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,969,186 shares of the business services provider’s stock worth $342,553,000 after buying an additional 139,179 shares in the last quarter. 73.31% of the stock is currently owned by institutional investors.
WM has been the subject of a number of recent research reports. CIBC reissued a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Oppenheimer reissued a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. KeyCorp increased their target price on Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. Scotiabank initiated coverage on Waste Management in a report on Monday, July 22nd. They issued an “outperform” rating for the company. Finally, Macquarie reissued an “outperform” rating and issued a $130.00 target price on shares of Waste Management in a report on Wednesday, September 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Waste Management has an average rating of “Buy” and an average price target of $115.25.
In other news, CEO James C. Fish, Jr. sold 84,314 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the transaction, the chief executive officer now owns 282,921 shares in the company, valued at $32,963,125.71. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael J. Watson sold 8,019 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total transaction of $957,468.60. Following the completion of the transaction, the vice president now owns 17,254 shares in the company, valued at approximately $2,060,127.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,361 shares of company stock worth $11,374,563. Insiders own 0.14% of the company’s stock.
WM stock opened at $113.51 on Friday. The business has a fifty day moving average price of $117.85 and a 200 day moving average price of $110.50. Waste Management, Inc. has a fifty-two week low of $83.22 and a fifty-two week high of $121.77. The stock has a market capitalization of $48.23 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 3.07 and a beta of 0.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Waste Management, Inc. will post 4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.512 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.05 annualized dividend and a dividend yield of 1.80%. Waste Management’s dividend payout ratio is presently 48.81%.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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