Gyroscope Capital Management Group LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,222 shares of the business services provider’s stock after buying an additional 690 shares during the period. Gyroscope Capital Management Group LLC’s holdings in Waste Management were worth $485,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI boosted its position in shares of Waste Management by 45.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 360,054 shares of the business services provider’s stock worth $41,539,000 after buying an additional 113,173 shares during the period. Johnson Financial Group Inc. boosted its position in shares of Waste Management by 6.6% during the second quarter. Johnson Financial Group Inc. now owns 1,909 shares of the business services provider’s stock worth $220,000 after buying an additional 118 shares during the period. Baldwin Brothers Inc. MA boosted its position in shares of Waste Management by 2.0% during the second quarter. Baldwin Brothers Inc. MA now owns 45,207 shares of the business services provider’s stock worth $5,216,000 after buying an additional 900 shares during the period. Burns J W & Co. Inc. NY boosted its position in shares of Waste Management by 4.3% during the second quarter. Burns J W & Co. Inc. NY now owns 33,755 shares of the business services provider’s stock worth $3,894,000 after buying an additional 1,389 shares during the period. Finally, BBT Capital Management LLC acquired a new position in shares of Waste Management during the second quarter worth about $205,000. 73.17% of the stock is owned by institutional investors.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Waste Management in a report on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price on the stock. Royal Bank of Canada set a $126.00 target price on Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus upped their target price on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Oppenheimer reiterated a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Finally, Raymond James set a $127.00 target price on Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $116.82.
NYSE:WM traded down $0.54 on Friday, hitting $116.90. The company’s stock had a trading volume of 61,177 shares, compared to its average volume of 1,957,810. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95. The stock has a fifty day moving average of $116.08 and a two-hundred day moving average of $112.49. The firm has a market capitalization of $48.69 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. Waste Management, Inc. has a one year low of $83.22 and a one year high of $121.77.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 4.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.512 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.05 annualized dividend and a yield of 1.75%. Waste Management’s dividend payout ratio is 48.81%.
In other Waste Management news, VP Michael J. Watson sold 8,019 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total value of $957,468.60. Following the sale, the vice president now owns 17,254 shares in the company, valued at $2,060,127.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick W. Gross sold 289 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the transaction, the director now owns 53,378 shares in the company, valued at approximately $6,331,164.58. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock worth $1,619,433 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.
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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