Raymond James Trust N.A. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 9.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 46,635 shares of the business services provider’s stock after selling 4,956 shares during the period. Raymond James Trust N.A.’s holdings in Waste Management were worth $4,846,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in WM. First Manhattan Co. increased its position in shares of Waste Management by 17.2% during the first quarter. First Manhattan Co. now owns 948 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 139 shares in the last quarter. Sabal Trust CO increased its position in shares of Waste Management by 1.7% during the first quarter. Sabal Trust CO now owns 293,343 shares of the business services provider’s stock valued at $30,481,000 after acquiring an additional 4,795 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Waste Management during the first quarter valued at approximately $3,542,000. Atwater Malick LLC increased its position in shares of Waste Management by 1.3% during the first quarter. Atwater Malick LLC now owns 50,332 shares of the business services provider’s stock valued at $5,230,000 after acquiring an additional 647 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in shares of Waste Management by 0.6% during the first quarter. First Citizens Bank & Trust Co. now owns 25,433 shares of the business services provider’s stock valued at $2,643,000 after acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.
In other news, SVP Tara J. Hmmer sold 472 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.81, for a total transaction of $46,638.32. Following the completion of the sale, the senior vice president now owns 17,208 shares of the company’s stock, valued at approximately $1,700,322.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Patrick W. Gross sold 365 shares of the business’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total transaction of $33,955.95. Following the sale, the director now directly owns 53,058 shares of the company’s stock, valued at approximately $4,935,985.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,092 shares of company stock valued at $402,648. Insiders own 0.30% of the company’s stock.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts forecast that Waste Management, Inc. will post 4.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.5125 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.97%. Waste Management’s payout ratio is presently 48.81%.
A number of equities research analysts have commented on WM shares. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $103.00 to $106.00 in a research report on Thursday, April 4th. KeyCorp started coverage on shares of Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price for the company. Oppenheimer lifted their target price on shares of Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $101.71.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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.
Further Reading: Market Capitalization – What it Means for Investors
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