Waste Management, Inc. (NYSE:WM) Sees Significant Growth in Short Interest

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Waste Management, Inc. (NYSE:WM) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,854,200 shares, a growth of 9.9% from the July 31st total of 3,507,800 shares. Based on an average daily trading volume, of 1,760,000 shares, the short-interest ratio is presently 2.2 days. Currently, 0.9% of the shares of the company are sold short.

In other news, Director Patrick W. Gross sold 289 shares of Waste Management stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total transaction of $34,278.29. Following the completion of the sale, the director now directly owns 53,378 shares in the company, valued at $6,331,164.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James C. Fish, Jr. sold 84,314 shares of Waste Management 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 sale, the chief executive officer now owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The disclosure for this sale can be found here. Insiders have sold 97,361 shares of company stock valued at $11,374,563 over the last quarter. Insiders own 0.14% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Waste Management by 0.5% in the second quarter. Vanguard Group Inc. now owns 35,963,494 shares of the business services provider’s stock worth $4,149,109,000 after acquiring an additional 174,451 shares during the period. BlackRock Inc. increased its stake in shares of Waste Management by 3.1% during the second quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after purchasing an additional 976,898 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Waste Management by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after purchasing an additional 326,408 shares in the last quarter. Northern Trust Corp increased its stake in shares of Waste Management by 0.6% during the second quarter. Northern Trust Corp now owns 5,126,154 shares of the business services provider’s stock worth $591,404,000 after purchasing an additional 29,757 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Waste Management by 0.7% during the second quarter. AQR Capital Management LLC now owns 4,069,937 shares of the business services provider’s stock worth $469,549,000 after purchasing an additional 27,195 shares in the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.

Shares of Waste Management stock opened at $111.95 on Monday. The firm has a 50-day simple moving average of $117.78 and a two-hundred day simple moving average of $110.56. The company has a market cap of $47.97 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 3.05 and a beta of 0.61. Waste Management has a fifty-two week low of $83.22 and a fifty-two week high of $121.77. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.66 and a current ratio of 1.70.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 11.49% and a return on equity of 29.15%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Waste Management will post 4.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.512 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.83%. Waste Management’s dividend payout ratio (DPR) is currently 48.81%.

A number of research analysts recently issued reports on WM shares. Royal Bank of Canada set a $126.00 target price on shares of Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer restated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. JPMorgan Chase & Co. started coverage on shares of Waste Management in a research report on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, CIBC restated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $115.25.

Waste Management Company Profile

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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