BT Investment Management Ltd acquired a new position in Waste Management, Inc. (NYSE:WM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 228,339 shares of the business services provider’s stock, valued at approximately $16,749,000. BT Investment Management Ltd owned 0.05% of Waste Management as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new position in shares of Waste Management in the 2nd quarter worth approximately $101,000. Northwest Investment Counselors LLC bought a new position in shares of Waste Management in the 2nd quarter worth approximately $103,000. Bruderman Asset Management LLC bought a new position in shares of Waste Management in the 2nd quarter worth approximately $110,000. Guardian Life Insurance Co. of America raised its stake in Waste Management by 0.9% during the 1st 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 period. Finally, First Interstate Bank raised its stake in Waste Management by 2.4% during the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.
In other news, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
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Waste Management, Inc. (WM) traded up 0.21% during midday trading on Friday, hitting $78.00. 2,335,827 shares of the stock traded hands. The firm has a market cap of $34.32 billion, a PE ratio of 26.71 and a beta of 0.71. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $78.39. The company’s 50 day moving average price is $76.10 and its 200 day moving average price is $73.85.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Equities research analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s payout ratio is 58.42%.
A number of research firms have commented on WM. BMO Capital Markets restated a “buy” rating and set a $82.00 target price on shares of Waste Management in a research note on Friday, September 8th. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus raised their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. raised their target price on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group raised their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $76.19.
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.
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