L & S Advisors Inc Sells 1,745 Shares of Waste Management, Inc. (NYSE:WM)

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L & S Advisors Inc reduced its stake in Waste Management, Inc. (NYSE:WM) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,277 shares of the business services provider’s stock after selling 1,745 shares during the period. Waste Management makes up approximately 1.1% of L & S Advisors Inc’s investment portfolio, making the stock its 15th biggest position. L & S Advisors Inc’s holdings in Waste Management were worth $8,108,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Waste Management by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after acquiring an additional 326,408 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its stake in shares of Waste Management by 1,000.0% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 2,200 shares of the business services provider’s stock worth $229,000 after buying an additional 2,000 shares during the period. Victory Capital Management Inc. increased its stake in shares of Waste Management by 1.6% during the first quarter. Victory Capital Management Inc. now owns 76,224 shares of the business services provider’s stock worth $7,920,000 after buying an additional 1,214 shares during the period. First Allied Advisory Services Inc. increased its stake in shares of Waste Management by 12.8% during the first quarter. First Allied Advisory Services Inc. now owns 22,155 shares of the business services provider’s stock worth $2,304,000 after buying an additional 2,513 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Waste Management by 4.0% during the first quarter. Cetera Investment Advisers now owns 4,571 shares of the business services provider’s stock worth $475,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 73.31% of the company’s stock.

In related news, CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the sale, the chief executive officer now directly owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 289 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the sale, the director now directly owns 53,378 shares of the company’s stock, valued at $6,331,164.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,361 shares of company stock valued at $11,374,563. Corporate insiders own 0.14% of the company’s stock.

WM stock opened at $113.51 on Friday. The company has a market capitalization of $48.23 billion, a P/E ratio of 27.03, a PEG ratio of 3.07 and a beta of 0.61. Waste Management, Inc. has a twelve month low of $83.22 and a twelve month high of $121.77. The business has a 50 day simple moving average of $117.85 and a 200-day simple moving average of $110.50. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Research analysts predict that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.512 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, September 5th. Waste Management’s dividend payout ratio is presently 48.81%.

A number of analysts recently weighed in on the stock. Royal Bank of Canada set a $126.00 target price on shares of Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. assumed coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price on the stock. CIBC restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Raymond James set a $127.00 target price on shares of Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Macquarie reiterated an “outperform” rating and issued a $130.00 price target on shares of Waste Management in a research note on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Waste Management presently has an average rating of “Buy” and a consensus price target of $115.25.

About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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

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