Isthmus Partners LLC Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

Isthmus Partners LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,444 shares of the business services provider’s stock after selling 1,856 shares during the quarter. Waste Management accounts for about 2.0% of Isthmus Partners LLC’s holdings, making the stock its 6th largest position. Isthmus Partners LLC’s holdings in Waste Management were worth $11,131,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WM. Nordea Investment Management AB boosted its stake in Waste Management by 100.8% during the first quarter. Nordea Investment Management AB now owns 5,929,710 shares of the business services provider’s stock valued at $765,347,000 after buying an additional 2,976,714 shares during the period. Ninety One UK Ltd increased its holdings in shares of Waste Management by 90.0% in the first quarter. Ninety One UK Ltd now owns 1,731,324 shares of the business services provider’s stock worth $223,375,000 after buying an additional 820,200 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Waste Management by 10.7% in the first quarter. Lazard Asset Management LLC now owns 6,682,819 shares of the business services provider’s stock worth $862,214,000 after buying an additional 647,203 shares during the period. Ameriprise Financial Inc. increased its holdings in Waste Management by 13.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,860,236 shares of the business services provider’s stock valued at $627,678,000 after purchasing an additional 584,632 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Waste Management by 83.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,237,400 shares of the business services provider’s stock valued at $159,649,000 after purchasing an additional 564,338 shares during the period. 74.10% of the stock is owned by institutional investors and hedge funds.

WM has been the topic of a number of analyst reports. BMO Capital Markets boosted their price target on Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Morgan Stanley upped their price objective on Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 13th. Oppenheimer increased their price target on Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Waste Management from $138.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, July 29th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $146.70 price target (down previously from $147.00) on shares of Waste Management in a report on Monday, July 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $136.25.

Shares of WM stock traded up $0.53 during trading hours on Wednesday, hitting $155.11. The company had a trading volume of 15,979 shares, compared to its average volume of 1,613,629. The company’s fifty day moving average is $149.50 and its 200 day moving average is $139.63. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.88 and a quick ratio of 0.84. Waste Management, Inc. has a fifty-two week low of $106.11 and a fifty-two week high of $156.74. The stock has a market capitalization of $65.32 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.09. Waste Management had a net margin of 9.69% and a return on equity of 26.32%. The company had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities analysts forecast that Waste Management, Inc. will post 4.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, September 2nd. Waste Management’s dividend payout ratio is currently 57.07%.

In other Waste Management news, CAO Leslie K. Nagy sold 2,006 shares of the business’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $139.06, for a total transaction of $278,954.36. Following the completion of the sale, the chief accounting officer now owns 4,776 shares in the company, valued at $664,150.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 33,115 shares of the company’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $155.18, for a total transaction of $5,138,785.70. Following the transaction, the chief financial officer now owns 53,434 shares of the company’s stock, valued at approximately $8,291,888.12. The disclosure for this sale can be found here. Insiders sold a total of 81,415 shares of company stock valued at $12,300,321 in the last 90 days. Company insiders own 0.16% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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