Voloridge Investment Management LLC Increases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Voloridge Investment Management LLC increased its stake in Waste Management, Inc. (NYSE:WM) by 23.6% in the first quarter, Holdings Channel reports. The institutional investor owned 452,068 shares of the business services provider’s stock after acquiring an additional 86,451 shares during the period. Voloridge Investment Management LLC’s holdings in Waste Management were worth $58,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dempze Nancy E lifted its stake in Waste Management by 4.4% in the first quarter. Dempze Nancy E now owns 6,300 shares of the business services provider’s stock worth $813,000 after purchasing an additional 265 shares during the last quarter. Eaton Vance Management lifted its stake in shares of Waste Management by 27.1% during the 1st quarter. Eaton Vance Management now owns 635,160 shares of the business services provider’s stock worth $81,948,000 after acquiring an additional 135,502 shares during the last quarter. Amundi Asset Management US Inc. boosted its holdings in Waste Management by 3.3% during the 1st quarter. Amundi Asset Management US Inc. now owns 1,599,388 shares of the business services provider’s stock valued at $206,353,000 after acquiring an additional 50,434 shares during the period. Punch & Associates Investment Management Inc. grew its position in Waste Management by 0.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 65,730 shares of the business services provider’s stock valued at $8,481,000 after acquiring an additional 352 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new stake in Waste Management in the first quarter worth $26,680,000. 74.15% of the stock is owned by institutional investors.

WM has been the topic of several recent analyst reports. Oppenheimer raised their price target on shares of Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Morgan Stanley lifted their price target on shares of Waste Management from $133.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 13th. Raymond James increased their price objective on Waste Management from $144.00 to $147.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. BMO Capital Markets lifted their target price on Waste Management from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Waste Management from $119.00 to $138.00 and gave the company a “hold” rating in a research note on Wednesday, April 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $132.75.

In other news, EVP Charles C. Boettcher sold 3,500 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $145.00, for a total transaction of $507,500.00. Following the sale, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at $2,768,195. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James C. Fish, Jr. sold 131,625 shares of the company’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $140.50, for a total value of $18,493,312.50. Following the completion of the transaction, the chief executive officer now directly owns 284,012 shares in the company, valued at $39,903,686. The disclosure for this sale can be found here. Insiders have sold 142,042 shares of company stock worth $19,971,447 in the last 90 days. Insiders own 0.16% of the company’s stock.

Shares of NYSE:WM traded down $0.29 during trading on Thursday, reaching $144.56. The stock had a trading volume of 2,486 shares, compared to its average volume of 1,190,995. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.01 and a quick ratio of 0.98. The firm has a market cap of $61.02 billion, a P/E ratio of 34.90, a P/E/G ratio of 2.50 and a beta of 0.81. The stock has a 50-day moving average of $141.06. Waste Management, Inc. has a one year low of $106.11 and a one year high of $146.92.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Waste Management had a net margin of 9.97% and a return on equity of 24.44%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that Waste Management, Inc. will post 4.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 18th. Shareholders of record on Friday, June 4th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, June 3rd. Waste Management’s dividend payout ratio is presently 57.07%.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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