Quantitative Investment Management LLC reduced its holdings in Waste Management, Inc. (NYSE:WM) by 57.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,800 shares of the business services provider’s stock after selling 115,900 shares during the quarter. Quantitative Investment Management LLC’s holdings in Waste Management were worth $7,318,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of WM. BlackRock Inc. grew its position in Waste Management by 0.5% during the fourth quarter. BlackRock Inc. now owns 32,153,839 shares of the business services provider’s stock worth $2,774,876,000 after buying an additional 155,373 shares in the last quarter. Wells Fargo & Company MN grew its position in Waste Management by 1.4% during the third quarter. Wells Fargo & Company MN now owns 7,277,527 shares of the business services provider’s stock worth $569,612,000 after buying an additional 103,234 shares in the last quarter. Janus Henderson Group PLC grew its position in Waste Management by 8.5% during the third quarter. Janus Henderson Group PLC now owns 4,684,275 shares of the business services provider’s stock worth $366,641,000 after buying an additional 366,450 shares in the last quarter. Geode Capital Management LLC grew its position in Waste Management by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 4,374,435 shares of the business services provider’s stock worth $376,732,000 after buying an additional 428,690 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Waste Management by 74.7% during the fourth quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock worth $303,469,000 after buying an additional 1,805,408 shares in the last quarter. 76.76% of the stock is currently owned by institutional investors.
In other Waste Management news, Director Patrick W. Gross sold 387 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the transaction, the director now owns 30,673 shares in the company, valued at $2,708,425.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff M. Harris sold 8,820 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $87.80, for a total transaction of $774,396.00. Following the transaction, the vice president now owns 80,203 shares of the company’s stock, valued at approximately $7,041,823.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,291 shares of company stock valued at $9,154,833. Corporate insiders own 0.19% of the company’s stock.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. equities analysts expect that Waste Management, Inc. will post 4.04 EPS for the current year.
Waste Management declared that its board has initiated a share repurchase plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.465 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a yield of 2.13%. Waste Management’s dividend payout ratio (DPR) is currently 42.18%.
A number of equities research analysts recently weighed in on WM shares. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, December 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $95.00 in a research report on Monday, December 11th. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a research report on Friday, February 16th. UBS Group raised Waste Management from a “market perform” rating to an “outperform” rating in a research report on Friday, February 16th. Finally, Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Ten research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $90.13.
ILLEGAL ACTIVITY WARNING: “Waste Management, Inc. (WM) Shares Sold by Quantitative Investment Management LLC” was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.themarketsdaily.com/2018/03/12/waste-management-inc-wm-shares-sold-by-quantitative-investment-management-llc.html.
Waste Management Company Profile
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.
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.