2,656 Shares in Waste Management, Inc. (WM) Acquired by Fiduciary Trust Co.

Fiduciary Trust Co. purchased a new position in Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,656 shares of the business services provider’s stock, valued at approximately $195,000.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Waste Management by 5.8% during the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock worth $2,388,388,000 after purchasing an additional 1,790,546 shares in the last quarter. BlackRock Inc. grew its stake in shares of Waste Management by 2,611.5% during the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after purchasing an additional 29,049,915 shares in the last quarter. State Street Corp grew its stake in shares of Waste Management by 0.6% during the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock worth $1,552,295,000 after purchasing an additional 134,152 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Waste Management by 10.2% during the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock worth $409,399,000 after purchasing an additional 518,270 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Waste Management by 95.0% during the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock worth $281,274,000 after purchasing an additional 1,879,300 shares in the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

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In other Waste Management news, Director John C. Pope sold 453 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Several research firms have issued reports on WM. Stifel Nicolaus upped their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. upped their price objective on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. Credit Suisse Group upped their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets restated a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $76.19.

Waste Management, Inc. (NYSE WM) opened at 77.72 on Tuesday. The firm has a market cap of $34.20 billion, a P/E ratio of 26.62 and a beta of 0.71. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $77.81. The firm has a 50-day moving average of $75.72 and a 200 day moving average of $73.69.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. On average, analysts predict that Waste Management, Inc. will post $3.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio is currently 58.42%.

About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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