Waste Management, Inc. (NYSE:WM) CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the transaction, the chief executive officer now directly owns 282,921 shares in the company, valued at $32,963,125.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of WM opened at $117.91 on Friday. Waste Management, Inc. has a 12 month low of $81.01 and a 12 month high of $118.11. The stock’s 50 day simple moving average is $113.87. The company has a market capitalization of $50.08 billion, a PE ratio of 28.07, a PEG ratio of 3.19 and a beta of 0.62. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.69 and a quick ratio of 0.66.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Management, Inc. will post 4.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.5125 per share. The ex-dividend date was Thursday, June 6th. This represents a $2.05 annualized dividend and a dividend yield of 1.74%. Waste Management’s dividend payout ratio is presently 48.81%.
Several institutional investors and hedge funds have recently made changes to their positions in WM. Norges Bank bought a new position in shares of Waste Management during the fourth quarter worth approximately $402,210,000. Nordea Investment Management AB increased its holdings in shares of Waste Management by 22.9% during the first quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after purchasing an additional 547,291 shares during the period. FMR LLC increased its holdings in shares of Waste Management by 136.9% during the fourth quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock worth $72,745,000 after purchasing an additional 472,388 shares during the period. California Public Employees Retirement System increased its holdings in shares of Waste Management by 14.9% during the first quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock worth $300,717,000 after purchasing an additional 374,826 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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 worth $462,699,000 after purchasing an additional 326,408 shares during the period. 73.55% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of AAR in a report on Monday, July 8th. They issued a “buy” rating and a $50.00 price target on the stock. KeyCorp cut shares of Luxfer from an “overweight” rating to a “sector weight” rating and set a $24.30 price target on the stock. in a report on Monday, June 3rd. Royal Bank of Canada set a €67.00 ($77.91) price target on shares of Daimler and gave the company a “buy” rating in a report on Monday, June 3rd. UBS Group reissued a “hold” rating on shares of Deutsche Bank in a report on Thursday, April 4th. Finally, Oppenheimer assumed coverage on shares of Pareteum in a report on Friday, April 26th. They issued an “outperform” rating and a $7.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Waste Management presently has an average rating of “Buy” and a consensus target price of $111.67.
About Waste Management
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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