Investors Sell Waste Management, Inc. (WM) on Strength (WM)

Investors sold shares of Waste Management, Inc. (NYSE:WM) on strength during trading hours on Friday. $17.76 million flowed into the stock on the tick-up and $48.74 million flowed out of the stock on the tick-down, for a money net flow of $30.98 million out of the stock. Of all companies tracked, Waste Management had the 0th highest net out-flow for the day. Waste Management traded up $1.04 for the day and closed at $77.12

Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets reissued a “buy” rating and set a $82.00 price objective on shares of Waste Management in a research note on Friday. Finally, Credit Suisse Group boosted their price objective 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.19.

The stock has a market cap of $33.94 billion, a PE ratio of 26.41 and a beta of 0.71. The stock has a 50-day moving average of $75.71 and a 200 day moving average of $73.67.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s dividend payout ratio is currently 58.42%.

In other news, Director John C. Pope sold 453 shares of the firm’s 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 sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the sale, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new stake in shares of Waste Management in the 2nd quarter valued at about $19,445,000. Hall Laurie J Trustee boosted its holdings in shares of Waste Management by 1.0% in the 2nd quarter. Hall Laurie J Trustee now owns 18,555 shares of the business services provider’s stock valued at $1,361,000 after buying an additional 175 shares in the last quarter. Atlantic Trust LLC boosted its holdings in shares of Waste Management by 7.6% in the 2nd quarter. Atlantic Trust LLC now owns 3,820 shares of the business services provider’s stock valued at $172,000 after buying an additional 270 shares in the last quarter. WFG Advisors LP boosted its holdings in shares of Waste Management by 16.3% in the 2nd quarter. WFG Advisors LP now owns 9,561 shares of the business services provider’s stock valued at $701,000 after buying an additional 1,338 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Waste Management by 25.3% in the 2nd quarter. Toronto Dominion Bank now owns 141,323 shares of the business services provider’s stock valued at $10,365,000 after buying an additional 28,526 shares in the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

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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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