SL Advisors LLC purchased a new position in Waste Management Inc. (NYSE:WM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,241 shares of the company’s stock, valued at approximately $1,010,000.
Other large investors have also recently made changes to their positions in the company. Credit Agricole S A raised its stake in shares of Waste Management by 67.0% in the first quarter. Credit Agricole S A now owns 1,054,544 shares of the company’s stock worth $62,218,000 after buying an additional 423,182 shares during the last quarter. AMF Pensionsforsakring AB raised its stake in shares of Waste Management by 13.8% in the first quarter. AMF Pensionsforsakring AB now owns 86,741 shares of the company’s stock worth $5,118,000 after buying an additional 10,500 shares during the last quarter. Smith Moore & CO. raised its stake in shares of Waste Management by 19.6% in the first quarter. Smith Moore & CO. now owns 6,854 shares of the company’s stock worth $404,000 after buying an additional 1,125 shares during the last quarter. Associated Banc Corp raised its stake in shares of Waste Management by 0.9% in the first quarter. Associated Banc Corp now owns 81,343 shares of the company’s stock worth $4,799,000 after buying an additional 692 shares during the last quarter. Finally, Aviva PLC raised its stake in shares of Waste Management by 0.8% in the first quarter. Aviva PLC now owns 230,341 shares of the company’s stock worth $13,590,000 after buying an additional 1,844 shares during the last quarter. 75.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management Inc. (NYSE:WM) traded down 0.27% during mid-day trading on Friday, hitting $62.61. 1,002,249 shares of the stock were exchanged. The firm has a market cap of $27.69 billion, a price-to-earnings ratio of 24.47 and a beta of 0.62. The stock has a 50-day moving average price of $63.80 and a 200 day moving average price of $62.68. Waste Management Inc. has a 52-week low of $50.36 and a 52-week high of $70.50.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. On average, equities research analysts expect that Waste Management Inc. will post $2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Wednesday, September 7th. Waste Management’s payout ratio is presently 63.81%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, September 27th. Macquarie initiated coverage on shares of Waste Management in a research report on Thursday, August 25th. They set a “neutral” rating and a $69.00 price target for the company. Argus reissued a “buy” rating and set a $72.00 price target on shares of Waste Management in a research report on Wednesday, August 10th. KeyCorp raised shares of Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price target for the company in a research report on Tuesday, August 9th. Finally, Barclays PLC cut shares of Waste Management from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $66.00 to $70.00 in a research report on Tuesday, August 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Waste Management presently has an average rating of “Buy” and a consensus target price of $67.13.
In other Waste Management news, CFO James C. Fish, Jr. sold 7,400 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $66.59, for a total transaction of $492,766.00. Following the transaction, the chief financial officer now directly owns 99,615 shares in the company, valued at approximately $6,633,362.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John J. Morris sold 12,738 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $66.75, for a total transaction of $850,261.50. Following the transaction, the senior vice president now owns 29,696 shares in the company, valued at $1,982,208. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
Waste Management Company Profile
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.
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