OxFORD Asset Management LLP reduced its holdings in Waste Management, Inc. (NYSE:WM) by 13.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,350 shares of the business services provider’s stock after selling 2,782 shares during the quarter. OxFORD Asset Management LLP’s holdings in Waste Management were worth $1,273,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new stake in Waste Management in the 2nd quarter valued at approximately $101,000. Northwest Investment Counselors LLC acquired a new stake in Waste Management in the 2nd quarter valued at approximately $103,000. Bruderman Asset Management LLC acquired a new stake in Waste Management in the 2nd quarter valued at approximately $110,000. Guardian Life Insurance Co. of America increased its position in Waste Management by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 14 shares during the period. Finally, First Interstate Bank increased its position in Waste Management by 2.4% in the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.
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In other news, Director John C. Pope sold 453 shares of the business’s stock in a transaction 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 owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
WM has been the subject of a number of research reports. Credit Suisse Group increased their price target on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. BMO Capital Markets initiated coverage on Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price target for the company. Oppenheimer Holdings, Inc. increased their price target on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. Stifel Nicolaus increased their price target on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $76.74.
Shares of Waste Management, Inc. (WM) opened at 77.08 on Thursday. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $79.28. The company has a market capitalization of $33.92 billion, a price-to-earnings ratio of 26.40 and a beta of 0.74. The stock’s 50 day moving average price is $77.38 and its 200 day moving average price is $74.49.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 58.42%.
Waste Management 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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