Waste Management Inc. (WM) Position Increased by ING Groep NV
ING Groep NV boosted its stake in shares of Waste Management Inc. (NYSE:WM) by 93.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,427 shares of the company’s stock after buying an additional 5,041 shares during the period. ING Groep NV’s holdings in Waste Management were worth $691,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in WM. Cribstone Capital Management LLC bought a new position in shares of Waste Management during the second quarter worth $132,000. Financial Architects Inc increased its position in shares of 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. Kanaly Trust Co increased its position in shares of Waste Management by 4.1% in the second quarter. Kanaly Trust Co now owns 2,526 shares of the company’s stock worth $167,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC bought a new position in shares of Waste Management during the first quarter worth $171,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Waste Management during the second quarter worth $208,000. 75.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Waste Management Inc. (NYSE:WM) traded down 0.80% during mid-day trading on Friday, hitting $62.28. 2,323,044 shares of the stock were exchanged. The stock’s 50 day moving average price is $63.73 and its 200-day moving average price is $62.71. Waste Management Inc. has a 12-month low of $50.36 and a 12-month high of $70.50. The stock has a market capitalization of $27.55 billion, a P/E ratio of 24.34 and a beta of 0.62.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business earned $3.43 billion during the quarter, compared to analyst estimates of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. On average, equities research analysts expect that Waste Management Inc. will post $2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.64 annualized dividend and a yield of 2.63%. Waste Management’s payout ratio is 63.81%.
A number of equities research analysts recently weighed in on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Friday, August 5th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Waste Management in a research note on Monday, July 18th. Argus reissued a “buy” rating and set a $72.00 price target on shares of Waste Management in a research note on Wednesday, August 10th. Barclays PLC downgraded shares of Waste Management from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $66.00 to $70.00 in a research note on Tuesday, August 9th. Finally, KeyCorp reissued a “hold” rating on shares of Waste Management in a research note on Thursday, July 14th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Waste Management currently has an average rating of “Buy” and a consensus target price of $67.13.
In other Waste Management news, SVP John J. Morris sold 12,738 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $66.75, for a total transaction of $850,261.50. Following the completion of the transaction, the senior vice president now owns 29,696 shares in the company, valued at approximately $1,982,208. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank M. Clark sold 449 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $67.21, for a total transaction of $30,177.29. Following the transaction, the director now owns 29,084 shares of the company’s stock, valued at approximately $1,954,735.64. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
About Waste Management
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.
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management Inc. (NYSE:WM).
Receive News & Ratings for Waste Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.