The Manufacturers Life Insurance Company cut its position in Waste Management, Inc. (NYSE:WM) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,258 shares of the business services provider’s stock after selling 10,351 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Waste Management worth $33,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in WM. Gyroscope Capital Management Group LLC boosted its position in shares of Waste Management by 1.8% during the second quarter. Gyroscope Capital Management Group LLC now owns 3,913 shares of the business services provider’s stock worth $287,000 after acquiring an additional 70 shares during the last quarter. Moors & Cabot Inc. lifted its position in Waste Management by 1.4% during the second quarter. Moors & Cabot Inc. now owns 24,186 shares of the business services provider’s stock valued at $1,777,000 after purchasing an additional 328 shares during the last quarter. Caxton Associates LP bought a new position in Waste Management during the second quarter valued at $726,000. Cubist Systematic Strategies LLC lifted its position in Waste Management by 27.4% during the second quarter. Cubist Systematic Strategies LLC now owns 19,394 shares of the business services provider’s stock valued at $1,423,000 after purchasing an additional 4,167 shares during the last quarter. Finally, Green Square Capital LLC lifted its position in Waste Management by 16.1% during the second quarter. Green Square Capital LLC now owns 7,347 shares of the business services provider’s stock valued at $539,000 after purchasing an additional 1,019 shares during the last quarter. 74.93% of the stock is owned by hedge funds and other institutional investors.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the sale, the director now owns 23,222 shares in the company, valued at approximately $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Pope sold 453 shares of Waste Management 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 completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
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Shares of Waste Management, Inc. (NYSE:WM) traded up 0.42% on Friday, hitting $77.24. 201,385 shares of the stock traded hands. The company has a market cap of $33.99 billion, a PE ratio of 26.45 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $61.59 and a 12 month high of $79.28. The firm’s 50 day moving average is $77.40 and its 200-day moving average is $74.51.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Equities analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 58.42%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. raised their target price on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. Stifel Nicolaus downgraded shares of Waste Management from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $80.00 in a research report on Wednesday, October 4th. BMO Capital Markets reissued a “buy” rating and set a $82.00 target price on shares of Waste Management in a research report on Friday, September 8th. Finally, Bank of America Corporation cut their target price on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.47.
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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