IFM Investors Pty Ltd acquired a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,715 shares of the business services provider’s stock, valued at approximately $933,000.
A number of other institutional investors also recently made changes to their positions in the stock. Hudock Capital Group LLC increased its stake in Waste Management by 0.6% during the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock worth $151,000 after acquiring an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in Waste Management by 0.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after acquiring an additional 14 shares during the last quarter. Lincoln National Corp increased its stake in Waste Management by 0.5% during the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock worth $323,000 after acquiring an additional 21 shares during the last quarter. Choate Investment Advisors increased its stake in Waste Management by 0.7% during the first quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock worth $235,000 after acquiring an additional 22 shares during the last quarter. Finally, Bridgewater Wealth & Financial Management LLC increased its stake in Waste Management by 0.5% during the second quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock worth $296,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.
Waste Management, Inc. (NYSE:WM) opened at 77.12 on Friday. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $77.52. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. The company has a 50-day moving average price of $75.71 and a 200-day moving average price of $73.67.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.70 annualized dividend and a yield of 2.20%. Waste Management’s dividend payout ratio is currently 58.42%.
In other news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the sale, the director now directly owns 23,222 shares in the company, valued at $1,734,218.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
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A number of equities research analysts have recently weighed in on WM shares. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, May 16th. Credit Suisse Group lifted their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets started coverage on Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Waste Management presently has an average rating of “Hold” and an average price target of $76.19.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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