Waste Management, Inc. (WM) Stake Raised by Geode Capital Management LLC
Geode Capital Management LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.5% during the first quarter, Holdings Channel reports. The firm owned 3,691,175 shares of the business services provider’s stock after buying an additional 193,135 shares during the period. Geode Capital Management LLC’s holdings in Waste Management were worth $268,745,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock valued at $100,000 after buying an additional 78 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Waste Management during the first quarter valued at approximately $127,000. Pinnacle Bank acquired a new position in shares of Waste Management during the first quarter valued at approximately $131,000. Finally, Hudock Capital Group LLC increased its position in shares of Waste Management by 18.0% in the first quarter. Hudock Capital Group LLC now owns 2,048 shares of the business services provider’s stock valued at $149,000 after buying an additional 312 shares during the last quarter. Institutional investors own 74.98% of the company’s stock.
Shares of Waste Management, Inc. (WM) opened at 74.50 on Tuesday. Waste Management, Inc. has a one year low of $61.08 and a one year high of $74.62. The stock has a 50 day moving average price of $72.70 and a 200 day moving average price of $71.94. The company has a market capitalization of $32.92 billion, a PE ratio of 27.18 and a beta of 0.71.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Waste Management had a net margin of 8.81% and a return on equity of 24.76%. Waste Management’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS. On average, equities research analysts predict that Waste Management, Inc. will post $3.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, June 7th. Waste Management’s dividend payout ratio is presently 62.04%.
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Several equities analysts have recently commented on the company. Oppenheimer Holdings, Inc. boosted their price objective on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Credit Suisse Group boosted their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets assumed coverage on Waste Management in a research report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Waste Management presently has a consensus rating of “Hold” and a consensus price target of $74.08.
In related news, SVP Barry H. Caldwell sold 8,142 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $73.52, for a total value of $598,599.84. Following the transaction, the senior vice president now directly owns 35,916 shares of the company’s stock, valued at approximately $2,640,544.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the transaction, the chief executive officer now directly owns 151,162 shares in the company, valued at $10,912,384.78. The disclosure for this sale can be found here. Insiders sold a total of 15,142 shares of company stock worth $1,104,140 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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