Rhumbline Advisers lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 730,653 shares of the business services provider’s stock after purchasing an additional 33,497 shares during the period. Rhumbline Advisers owned 0.17% of Waste Management worth $75,922,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HL Financial Services LLC raised its position in Waste Management by 1.4% during the 1st quarter. HL Financial Services LLC now owns 12,793 shares of the business services provider’s stock worth $1,329,000 after purchasing an additional 176 shares during 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. Harwood Advisory Group LLC bought a new position in shares of Waste Management in the 1st quarter worth about $2,840,000. Finally, First National Bank of Omaha raised its position in shares of Waste Management by 1.6% in the 1st quarter. First National Bank of Omaha now owns 75,043 shares of the business services provider’s stock worth $7,798,000 after acquiring an additional 1,148 shares in the last quarter. Institutional investors own 73.76% of the company’s stock.
In related news, EVP John J. Morris sold 42,795 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $106.38, for a total value of $4,552,532.10. Following the completion of the transaction, the executive vice president now directly owns 101,332 shares in the company, valued at $10,779,698.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 700 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was 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 owns 9,518 shares of the company’s stock, valued at $995,106.90. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
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 lifted their price target 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 assumed 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 assumed coverage on Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Finally, Stifel Nicolaus downgraded Waste Management from a “buy” rating to a “hold” rating and set a $103.00 target price on the stock. in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Waste Management presently has an average rating of “Buy” and an average target price of $105.22.
WM stock traded down $0.93 during midday trading on Wednesday, reaching $107.24. 1,789,078 shares of the company’s stock traded hands, compared to its average volume of 1,274,506. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.69 and a quick ratio of 0.66. Waste Management, Inc. has a 52 week low of $79.96 and a 52 week high of $109.99. The stock has a market capitalization of $46.06 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.93 and a beta of 0.67.
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. Equities research analysts anticipate that Waste Management, Inc. will post 4.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given 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 dividend yield of 1.91%. Waste Management’s dividend payout ratio (DPR) is currently 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.
Read More: Is a Roth IRA right for you?
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.