Advisor Resource Council cut its position in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 53.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,561 shares of the business services provider’s stock after selling 1,780 shares during the quarter. Advisor Resource Council’s holdings in Waste Management were worth $247,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cozad Asset Management Inc. boosted its position in Waste Management by 3.7% during the fourth quarter. Cozad Asset Management Inc. now owns 1,898 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 67 shares during the last quarter. Glassman Wealth Services boosted its position in Waste Management by 7.1% during the first quarter. Glassman Wealth Services now owns 1,007 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 67 shares during the last quarter. Avantax Planning Partners Inc. boosted its position in Waste Management by 1.4% during the fourth quarter. Avantax Planning Partners Inc. now owns 4,889 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 68 shares during the last quarter. Fulton Bank NA boosted its position in Waste Management by 1.6% during the fourth quarter. Fulton Bank NA now owns 4,513 shares of the business services provider’s stock valued at $753,000 after purchasing an additional 69 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Waste Management by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,009 shares of the business services provider’s stock valued at $669,000 after buying an additional 69 shares during the last quarter. 80.37% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on WM. Bank of America raised Waste Management from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $155.00 to $165.00 in a research report on Friday, May 13th. BMO Capital Markets cut Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 price objective for the company. in a research report on Tuesday, April 12th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft lifted their price target on Waste Management from $157.00 to $167.00 in a report on Thursday, April 28th. Finally, Morgan Stanley dropped their price target on Waste Management from $165.00 to $160.00 and set an “equal weight” rating for the company in a report on Wednesday, June 22nd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $163.00.
Shares of WM opened at $151.25 on Thursday. Waste Management, Inc. has a 52-week low of $138.58 and a 52-week high of $170.18. The business’s fifty-day moving average is $155.34 and its 200-day moving average is $155.02. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.76 and a current ratio of 0.80. The firm has a market cap of $62.80 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.49 and a beta of 0.80.
Waste Management (NYSE:WM – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.17. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.45 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS. As a group, research analysts forecast that Waste Management, Inc. will post 5.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.72%. Waste Management’s dividend payout ratio is currently 57.27%.
In other Waste Management news, SVP Nikolaj H. Sjoqvist sold 10,311 shares of Waste Management stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $166.57, for a total transaction of $1,717,503.27. Following the transaction, the senior vice president now directly owns 38,769 shares of the company’s stock, valued at approximately $6,457,752.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Leslie K. Nagy sold 2,668 shares of Waste Management stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $169.72, for a total value of $452,812.96. Following the transaction, the chief accounting officer now directly owns 4,880 shares in the company, valued at $828,233.60. The disclosure for this sale can be found here. Insiders have sold a total of 59,985 shares of company stock worth $10,072,025 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.
About Waste Management: (Get Rating)
Waste Management, Inc., through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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.
Featured Articles:
Receive News & Ratings for Waste Management Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Waste Management and related companies with MarketBeat.com’s FREE daily email newsletter.
.