QS Investors LLC Sells 2,349 Shares of Waste Management, Inc. (NYSE:WM)

QS Investors LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 31,479 shares of the business services provider’s stock after selling 2,349 shares during the quarter. QS Investors LLC’s holdings in Waste Management were worth $4,411,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of Waste Management during the 2nd quarter valued at about $25,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Waste Management during the 1st quarter valued at about $25,000. KB Financial Partners LLC purchased a new stake in shares of Waste Management during the 1st quarter valued at about $26,000. Godsey & Gibb Associates increased its position in shares of Waste Management by 58.0% during the 2nd quarter. Godsey & Gibb Associates now owns 237 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Finally, Evermay Wealth Management LLC purchased a new stake in shares of Waste Management during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 74.10% of the company’s stock.

Several equities research analysts have recently commented on WM shares. Raymond James reaffirmed an “outperform” rating and set a $146.70 price target (down previously from $147.00) on shares of Waste Management in a research report on Monday, July 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Waste Management from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, July 29th. Oppenheimer increased their target price on shares of Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Morgan Stanley increased their target price on shares of Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 13th. Finally, BMO Capital Markets increased their target price on shares of Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.97.

In other news, CFO Devina A. Rankin sold 33,115 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 53,434 shares in the company, valued at approximately $8,291,888.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tara J. Hemmer sold 12,186 shares of the stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $149.07, for a total value of $1,816,567.02. The disclosure for this sale can be found here. Insiders have sold a total of 87,826 shares of company stock valued at $13,292,316 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

WM stock opened at $154.97 on Thursday. Waste Management, Inc. has a 1-year low of $106.11 and a 1-year high of $156.74. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.88 and a quick ratio of 0.84. The company has a market capitalization of $65.26 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.50 and a beta of 0.81. The business has a 50 day simple moving average of $152.49 and a two-hundred day simple moving average of $144.16.

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

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

Waste Management 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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