IBM Retirement Fund cut its position in Waste Management, Inc. (NYSE: WM – Get Rating) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,708 shares of the business services provider’s stock after selling 311 shares during the period. IBM Retirement Fund’s holdings in Waste Management were worth $ 1,063,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Steward Financial Group LLC acquired a new position in shares of Waste Management during the fourth quarter worth approximately $ 25,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Waste Management during the fourth quarter worth approximately $ 25,000. Amplius Wealth Advisors LLC acquired a new position in Waste Management in the fourth quarter valued at approximately $ 27,000. SOA Wealth Advisors LLC. lifted its holdings in Waste Management by 51.5% in the fourth quarter. SOA Wealth Advisors LLC. now owns 206 shares of the business services provider’s stock valued at $ 34,000 after buying an additional 70 shares during the period. Finally, Addison Advisors LLC acquired a new position in Waste Management in the fourth quarter valued at approximately $ 36,000. Hedge funds and other institutional investors own 80.37% of the company stock.
Several equities research analysts have commented on the stock. BMO Capital Markets downgraded shares of Waste Management from an “outperform” rating to a “market perform” rating and set a $ 174.00 target price for the company. in a research note on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Waste Management from $ 157.00 to $ 167.00 in a research report on Thursday, April 28th. Raymond James increased their price objective on shares of Waste Management from $ 167.00 to $ 170.00 and gave the stock an “outperform” rating in a research report on Friday, April 22nd. Morgan Stanley lowered their price objective on shares of Waste Management from $ 165.00 to $ 160.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Waste Management in a report on Tuesday, March 1st. They set a “neutral” rating and a $ 153.00 target price for the company. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company stock. According to MarketBeat, Waste Management currently has a consensus rating of “Hold” and a consensus target price of $ 163.00.
Shares of Waste Management stock opened at $ 150.31 on Friday. The firm has a market capitalization of $ 62.41 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.40 and a beta of 0.80. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.83. The firm’s 50 day moving average is $ 155.90 and its 200 day moving average is $ 155.30. Waste Management, Inc. has a 1 year low of $ 138.28 and a 1 year high of $ 170.18.
Waste Management (NYSE: WM – Get Rating) last posted its earnings results on Tuesday, April 26th. The business services provider reported $ 1.29 EPS for the quarter, topping the consensus estimate of $ 1.12 by $ 0.17. Waste Management had a net margin of 10.32% and a return on equity of 29.67%. The business had revenue of $ 4.66 billion for the quarter, compared to the estimate consensus of $ 4.45 billion. During the same period last year, the company earned $ 1.06 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts anticipate that Waste Management, Inc. will post 5.55 earnings per share for the current year.
The firm also recently announced 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 annualized dividend and a yield of 1.73%. Waste Management’s dividend payout ratio is presently 57.27%.
In other news, SVP Nikolaj H. Sjoqvist sold 10,311 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $ 166.57, for a total value of $ 1,717,503.27. Following the transaction, the senior vice president now owns 38,769 shares in the company, valued at approximately $ 6,457,752.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 28,976 shares of Waste Management stock in a transaction on Monday, March 28th. The shares were sold at an average price of $ 158.05, for a total transaction of $ 4,579,656.80. The disclosure for this sale can be found here. Insiders sold a total of 88,961 shares of company stock worth $ 14,651,682 in the last 90 days. Corporate insiders own 0.18% of the company stock.
Waste Management Profile: (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.
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