Strategic Advisors LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,961 shares of the business services provider’s stock after selling 1,486 shares during the period. Waste Management makes up approximately 1.7% of Strategic Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Strategic Advisors LLC’s holdings in Waste Management were worth $4,360,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its position in Waste Management by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock valued at $2,817,372,000 after purchasing an additional 1,025,813 shares in the last quarter. Parnassus Investments CA raised its position in Waste Management by 1.3% during the fourth quarter. Parnassus Investments CA now owns 5,879,967 shares of the business services provider’s stock valued at $523,258,000 after purchasing an additional 73,432 shares in the last quarter. AQR Capital Management LLC raised its position in Waste Management by 2.4% during the third quarter. AQR Capital Management LLC now owns 5,463,378 shares of the business services provider’s stock valued at $493,671,000 after purchasing an additional 128,847 shares in the last quarter. Geode Capital Management LLC raised its position in Waste Management by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after purchasing an additional 326,408 shares in the last quarter. Finally, Northern Trust Corp raised its position in Waste Management by 3.8% during the fourth quarter. Northern Trust Corp now owns 5,024,041 shares of the business services provider’s stock valued at $447,089,000 after purchasing an additional 182,007 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.
Shares of NYSE:WM traded up $2.88 during trading on Monday, hitting $104.67. 100,759 shares of the company were exchanged, compared to its average volume of 1,867,872. The company has a market capitalization of $42.71 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 2.63 and a beta of 0.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. Waste Management, Inc. has a 1-year low of $79.96 and a 1-year high of $104.80.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.07. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.78 billion. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. On average, equities analysts forecast that Waste Management, Inc. will post 4.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.5125 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 annualized dividend and a dividend yield of 1.96%. Waste Management’s dividend payout ratio is 48.81%.
In related news, CFO Devina A. Rankin sold 692 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.80, for a total value of $68,369.60. Following the sale, the chief financial officer now owns 22,128 shares of the company’s stock, valued at $2,186,246.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 365 shares of the business’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total transaction of $33,955.95. Following the completion of the sale, the director now directly owns 53,058 shares in the company, valued at approximately $4,935,985.74. The disclosure for this sale can be found here. Insiders have sold 4,092 shares of company stock valued at $402,648 over the last quarter. Company insiders own 0.30% of the company’s stock.
Several research analysts have commented on the stock. Stifel Nicolaus upgraded 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 boosted their price objective for the company from $103.00 to $106.00 in a research report on Thursday, April 4th. KeyCorp assumed coverage on shares of Waste Management in a research report on Monday, February 4th. They set an “overweight” rating and a $96.00 price objective for the company. Oppenheimer boosted their price objective on shares of Waste Management from $95.00 to $108.00 and gave the company 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 stock. The company presently has a consensus rating of “Buy” and an average target price of $101.71.
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Waste Management 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.
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