1ST Source Bank Has $1,942,000 Stake in Waste Management Inc. (WM)
1ST Source Bank lowered its position in shares of Waste Management Inc. (NYSE:WM) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,314 shares of the company’s stock after selling 380 shares during the period. 1ST Source Bank’s holdings in Waste Management were worth $1,942,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of WM. Sabal Trust CO increased its position in Waste Management by 2.5% in the second quarter. Sabal Trust CO now owns 370,604 shares of the company’s stock worth $24,560,000 after buying an additional 9,088 shares in the last quarter. Shell Asset Management Co. increased its position in Waste Management by 1.0% in the second quarter. Shell Asset Management Co. now owns 303,191 shares of the company’s stock worth $20,092,000 after buying an additional 3,081 shares in the last quarter. PGGM Investments increased its position in Waste Management by 5.2% in the second quarter. PGGM Investments now owns 879,096 shares of the company’s stock worth $58,258,000 after buying an additional 43,136 shares in the last quarter. Wellington Management Group LLP increased its position in Waste Management by 2.7% in the first quarter. Wellington Management Group LLP now owns 7,836,448 shares of the company’s stock worth $462,350,000 after buying an additional 203,375 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Waste Management by 123.3% in the second quarter. Retirement Systems of Alabama now owns 468,635 shares of the company’s stock worth $31,056,000 after buying an additional 258,794 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.
Shares of Waste Management Inc. (NYSE:WM) traded up 0.08% during mid-day trading on Tuesday, reaching $62.69. 403,460 shares of the company traded hands. The stock’s 50-day moving average is $63.27 and its 200-day moving average is $62.87. The company has a market capitalization of $27.73 billion, a P/E ratio of 24.50 and a beta of 0.62. Waste Management Inc. has a 52 week low of $50.36 and a 52 week high of $70.50.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The company earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the business earned $0.67 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that Waste Management Inc. will post $2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, September 7th. Waste Management’s dividend payout ratio (DPR) is presently 63.81%.
A number of research analysts recently issued reports on WM shares. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, September 27th. Macquarie started coverage on shares of Waste Management in a report on Thursday, August 25th. They issued a “neutral” rating and a $69.00 price objective for the company. Wedbush cut shares of Waste Management from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $73.00 to $68.00 in a report on Thursday, October 13th. They noted that the move was a valuation call. Stifel Nicolaus raised shares of Waste Management from a “market weight” rating to an “overweight” rating in a report on Monday, June 27th. Finally, KeyCorp raised shares of Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price objective for the company in a report on Tuesday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $66.77.
In other news, VP Don P. Carpenter sold 1,634 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $66.13, for a total value of $108,056.42. Following the completion of the sale, the vice president now owns 19,865 shares in the company, valued at approximately $1,313,672.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John J. Morris sold 12,738 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $66.75, for a total transaction of $850,261.50. Following the completion of the sale, the senior vice president now owns 29,696 shares of the company’s stock, valued at approximately $1,982,208. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
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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