Financial Counselors Inc. decreased its position in Waste Management, Inc. (NYSE:WM) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,896 shares of the business services provider’s stock after selling 29,404 shares during the period. Financial Counselors Inc.’s holdings in Waste Management were worth $7,474,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Waste Management by 5.8% during the 1st 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 during the last quarter. BlackRock Inc. increased its stake in shares of Waste Management by 2,611.5% during the 1st 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 during the last quarter. State Street Corp increased its stake in shares of Waste Management by 0.6% during the 1st 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 during the last quarter. AQR Capital Management LLC increased its stake in shares of Waste Management by 10.2% during the 1st 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 during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Waste Management by 95.0% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.
Waste Management, Inc. (NYSE WM) opened at 77.72 on Tuesday. The company has a 50-day moving average of $75.72 and a 200 day moving average of $73.69. The company has a market capitalization of $34.20 billion, a P/E ratio of 26.62 and a beta of 0.71. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $77.81.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a yield of 2.19%. Waste Management’s dividend payout ratio is currently 58.42%.
In other news, Director John C. Pope sold 453 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now directly owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the 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 completion of the sale, 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 currently owned by corporate insiders.
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Several brokerages have recently issued reports on WM. BMO Capital Markets restated a “buy” rating and set a $82.00 price target on shares of Waste Management in a research note on Friday. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus raised their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. raised their price target on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group raised their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Waste Management currently has a consensus rating of “Hold” and an average price target of $76.19.
Waste Management Profile
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.
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