Trust Co. of Virginia VA trimmed its position in Waste Management, Inc. (NYSE:WM) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,427 shares of the business services provider’s stock after selling 500 shares during the quarter. Trust Co. of Virginia VA’s holdings in Waste Management were worth $7,733,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Waste Management by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after acquiring an additional 1,790,546 shares during the period. BlackRock Inc. raised its holdings in Waste Management by 2,611.5% in the 1st quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock valued at $2,199,436,000 after acquiring an additional 29,049,915 shares during the period. State Street Corp raised its holdings in Waste Management by 0.6% in the 1st quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock valued at $1,552,295,000 after acquiring an additional 134,152 shares during the period. AQR Capital Management LLC raised its holdings in Waste Management by 10.2% in the 1st quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock valued at $409,399,000 after acquiring an additional 518,270 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Waste Management by 95.0% in the 1st quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock valued at $281,274,000 after acquiring an additional 1,879,300 shares during the period. 74.99% of the stock is currently owned by institutional investors.
Waste Management, Inc. (NYSE WM) opened at 77.72 on Tuesday. The firm has a market cap of $34.20 billion, a price-to-earnings ratio of 26.62 and a beta of 0.71. The firm’s 50 day moving average is $75.72 and its 200-day moving average is $73.69. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $77.81.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is currently 58.42%.
Several research firms have weighed in on WM. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. BMO Capital Markets reissued a “buy” rating and issued a $82.00 price target on shares of Waste Management in a report on Friday. Credit Suisse Group increased their price target on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus increased their price target on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $76.19.
In other news, Director John C. Pope sold 453 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were 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 in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
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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