Private Advisor Group LLC increased its stake in Waste Management, Inc. (NYSE:WM) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,811 shares of the business services provider’s stock after buying an additional 1,592 shares during the quarter. Private Advisor Group LLC’s holdings in Waste Management were worth $3,907,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of WM. BlackRock Inc. lifted its position in Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares during the last quarter. Renaissance Technologies LLC lifted its position in Waste Management by 95.0% in the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock worth $281,274,000 after buying an additional 1,879,300 shares during the last quarter. Vanguard Group Inc. lifted its position in Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock worth $2,388,388,000 after buying an additional 1,790,546 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in Waste Management by 8,786.6% in the second quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock worth $12,314,000 after buying an additional 893,068 shares during the last quarter. Finally, Janus Capital Management LLC lifted its position in Waste Management by 34.1% in the first quarter. Janus Capital Management LLC now owns 3,449,747 shares of the business services provider’s stock worth $251,556,000 after buying an additional 876,766 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.
A number of brokerages recently issued reports on WM. BMO Capital Markets began coverage on Waste Management in a research report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target for the company. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, June 22nd. Stifel Nicolaus raised their price target on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Credit Suisse Group raised their price target on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. raised their price target on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Waste Management currently has a consensus rating of “Hold” and a consensus price target of $76.19.
Shares of Waste Management, Inc. (NYSE:WM) opened at 77.12 on Monday. The stock has a market cap of $33.94 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $77.52. The firm has a 50-day moving average price of $75.71 and a 200-day moving average price of $73.67.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.
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In other news, Director John C. Pope sold 453 shares of the company’s stock in a transaction 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 owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
About Waste Management
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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