Waste Management Inc. (WM) Position Decreased by Advisors Asset Management Inc.
Advisors Asset Management Inc. lowered its stake in shares of Waste Management Inc. (NYSE:WM) by 55.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,300 shares of the company’s stock after selling 13,948 shares during the period. Advisors Asset Management Inc.’s holdings in Waste Management were worth $749,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Alexandria Capital LLC increased its position in Waste Management by 2.7% in the second quarter. Alexandria Capital LLC now owns 1,583 shares of the company’s stock worth $105,000 after buying an additional 41 shares in the last quarter. Hudock Capital Group LLC increased its position in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 1,715 shares of the company’s stock worth $113,000 after buying an additional 11 shares in the last quarter. Cribstone Capital Management LLC purchased a new position in Waste Management during the second quarter worth $132,000. Financial Architects Inc increased its position in Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock worth $132,000 after buying an additional 16 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in Waste Management by 320.0% in the second quarter. Chicago Partners Investment Group LLC now owns 2,100 shares of the company’s stock worth $139,000 after buying an additional 1,600 shares in the last quarter. 75.21% of the stock is currently owned by institutional investors.
Shares of Waste Management Inc. (NYSE:WM) traded down 1.070% during mid-day trading on Friday, reaching $63.325. The company had a trading volume of 1,052,889 shares. The stock has a 50 day moving average of $64.57 and a 200-day moving average of $62.31. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 24.746 and a beta of 0.58. Waste Management Inc. has a 52 week low of $48.98 and a 52 week high of $70.50.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. On average, analysts expect that Waste Management Inc. will post $2.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.64 annualized dividend and a yield of 2.56%. Waste Management’s payout ratio is presently 63.81%.
A number of research firms have weighed in on WM. Barclays PLC downgraded Waste Management from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $66.00 to $70.00 in a report on Tuesday, August 9th. Argus reissued a “buy” rating and issued a $72.00 target price on shares of Waste Management in a report on Wednesday, August 10th. KeyCorp reissued a “hold” rating on shares of Waste Management in a report on Thursday, July 14th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Wednesday, June 29th. Finally, Imperial Capital increased their target price on Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a report on Friday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $67.34.
In other news, CFO James C. Fish, Jr. sold 7,400 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $66.59, for a total value of $492,766.00. Following the sale, the chief financial officer now owns 99,615 shares in the company, valued at $6,633,362.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas H. Weidemeyer sold 449 shares of the company’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $67.58, for a total value of $30,343.42. Following the completion of the sale, the director now owns 24,383 shares in the company, valued at approximately $1,647,803.14. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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