Parnassus Investments CA lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 0.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,876,731 shares of the business services provider’s stock after selling 3,236 shares during the period. Waste Management accounts for approximately 2.4% of Parnassus Investments CA’s investment portfolio, making the stock its 17th biggest holding. Parnassus Investments CA owned approximately 1.38% of Waste Management worth $610,651,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers raised its position in Waste Management by 4.8% during the 1st quarter. Rhumbline Advisers now owns 730,653 shares of the business services provider’s stock worth $75,922,000 after purchasing an additional 33,497 shares during the last quarter. HL Financial Services LLC raised its position in shares of Waste Management by 1.4% in the 1st quarter. HL Financial Services LLC now owns 12,793 shares of the business services provider’s stock worth $1,329,000 after acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Waste Management by 31.0% in the 1st quarter. Parallel Advisors LLC now owns 3,929 shares of the business services provider’s stock worth $408,000 after acquiring an additional 929 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Waste Management by 96.9% in the 1st quarter. Moors & Cabot Inc. now owns 52,026 shares of the business services provider’s stock worth $5,420,000 after acquiring an additional 25,599 shares in the last quarter. Finally, Harwood Advisory Group LLC acquired a new stake in shares of Waste Management in the 1st quarter valued at about $2,840,000. Institutional investors own 73.76% of the company’s stock.
In other news, VP Michael J. Watson sold 700 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total transaction of $73,185.00. Following the completion of the transaction, the vice president now directly owns 9,518 shares in the company, valued at approximately $995,106.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Morris sold 42,795 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the completion of the transaction, the executive vice president now owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Several analysts have recently commented on WM shares. Argus raised their target price on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Oppenheimer raised their target price on Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Royal Bank of Canada started coverage on Waste Management in a research note on Wednesday, May 1st. They set a “sector perform” rating and a $113.00 price target for the company. KeyCorp started coverage on Waste Management in a research note on Monday, February 4th. They set an “overweight” rating and a $96.00 price target for the company. Finally, Stifel Nicolaus downgraded Waste Management from a “buy” rating to a “hold” rating and set a $103.00 price target for the company. in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $105.22.
Shares of NYSE:WM traded down $0.93 during mid-day trading on Wednesday, reaching $107.24. The company had a trading volume of 1,789,078 shares, compared to its average volume of 1,274,506. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $46.06 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.93 and a beta of 0.67. Waste Management, Inc. has a one year low of $79.96 and a one year high of $109.99.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 4.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.5125 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.05 dividend on an annualized basis and a yield of 1.91%. Waste Management’s payout ratio is 48.81%.
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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