Victory Capital Management Inc. cut its position in shares of Waste Management Inc. (NYSE:WM) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 5,273 shares of the company’s stock after selling 176 shares during the period. Victory Capital Management Inc.’s holdings in Waste Management were worth $349,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alexandria Capital LLC raised its position in Waste Management by 2.7% in the second quarter. Alexandria Capital LLC now owns 1,583 shares of the company’s stock worth $105,000 after buying an additional 41 shares during the last quarter. Hudock Capital Group LLC raised its position in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 1,715 shares of the company’s stock worth $113,000 after buying an additional 11 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in Waste Management during the second quarter worth about $132,000. Financial Architects Inc raised its position in Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock worth $132,000 after buying an additional 16 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in Waste Management by 320.0% in the second quarter. Chicago Partners Investment Group LLC now owns 2,100 shares of the company’s stock worth $139,000 after buying an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 75.21% of the company’s stock.
Shares of Waste Management Inc. (NYSE:WM) traded up 0.77% during trading on Friday, reaching $63.76. 2,471,686 shares of the company traded hands. Waste Management Inc. has a 12 month low of $50.36 and a 12 month high of $70.50. The stock has a market capitalization of $28.20 billion, a PE ratio of 24.92 and a beta of 0.58. The company has a 50-day moving average of $64.15 and a 200-day moving average of $62.56.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts forecast that Waste Management Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a $0.41 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. Waste Management’s dividend payout ratio is currently 63.81%.
WM has been the topic of several research analyst reports. Barclays PLC lowered shares of Waste Management from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $66.00 to $70.00 in a research report on Tuesday, August 9th. Argus restated a “buy” rating and issued a $72.00 price target on shares of Waste Management in a research report on Wednesday, August 10th. KeyCorp restated a “hold” rating on shares of Waste Management in a research report on Thursday, July 14th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, June 29th. Finally, Imperial Capital raised their price target on shares of Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a research report on Friday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.13.
In other Waste Management news, VP Don P. Carpenter sold 1,634 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $66.13, for a total value of $108,056.42. Following the transaction, the vice president now directly owns 19,865 shares in the company, valued at $1,313,672.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas H. Weidemeyer sold 449 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $67.58, for a total transaction of $30,343.42. Following the completion of the transaction, the director now owns 24,383 shares in the company, valued at $1,647,803.14. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
About Waste Management
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management Inc. (NYSE:WM).
Receive News & Ratings for Waste Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.