EagleClaw Capital Managment LLC continued to hold its stake in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,775 shares of the business services provider’s stock at the close of the second quarter. EagleClaw Capital Managment LLC’s holdings in Waste Management were worth $1,230,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Scotia Capital Inc. boosted its holdings in Waste Management by 5.0% in the second quarter. Scotia Capital Inc. now owns 66,496 shares of the business services provider’s stock worth $4,877,000 after acquiring an additional 3,143 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in Waste Management by 157.5% in the second quarter. Nomura Holdings Inc. now owns 46,922 shares of the business services provider’s stock worth $3,441,000 after acquiring an additional 28,698 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Waste Management by 19.0% in the second quarter. IHT Wealth Management LLC now owns 2,314 shares of the business services provider’s stock worth $835,000 after acquiring an additional 369 shares in the last quarter. Gyroscope Capital Management Group LLC boosted its holdings in Waste Management by 1.8% in the second quarter. Gyroscope Capital Management Group LLC now owns 3,913 shares of the business services provider’s stock worth $287,000 after acquiring an additional 70 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in Waste Management by 1.4% in the second quarter. Moors & Cabot Inc. now owns 24,186 shares of the business services provider’s stock worth $1,777,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
Several brokerages have issued reports on WM. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price target on shares of Waste Management in a report on Friday, September 8th. Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and dropped their target price for the company from $85.00 to $80.00 in a report on Wednesday, October 4th. Credit Suisse Group raised their target price on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Bank of America Corporation dropped their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Waste Management has an average rating of “Hold” and a consensus price target of $76.74.
In related 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 value of $36,369.16. Following the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the transaction, the director now directly owns 51,470 shares in the company, 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.
Waste Management, Inc. (WM) traded up 0.2443% on Wednesday, hitting $76.9275. The stock had a trading volume of 463,628 shares. The stock has a 50 day moving average price of $77.35 and a 200 day moving average price of $74.47. The company has a market cap of $33.85 billion, a P/E ratio of 26.3450 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $79.28.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $3.68 billion for 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 firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a $0.425 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.70 annualized dividend and a yield of 2.22%. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.
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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