Waste Management, Inc. (WM) Stake Reduced by Hamilton Point Investment Advisors LLC
Hamilton Point Investment Advisors LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,105 shares of the business services provider’s stock after selling 385 shares during the period. Hamilton Point Investment Advisors LLC’s holdings in Waste Management were worth $2,195,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of WM. Quadrant Capital Group LLC raised its stake in 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 worth $100,000 after buying an additional 78 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in 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 worth $114,000 after buying an additional 14 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Waste Management during the first quarter worth about $127,000. Parallel Advisors LLC raised its stake in Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock worth $130,000 after buying an additional 493 shares during the last quarter. Finally, Pinnacle Bank acquired a new stake in Waste Management during the first quarter worth about $131,000. 74.98% of the stock is owned by institutional investors.
Shares of Waste Management, Inc. (WM) opened at 75.00 on Friday. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of 27.36 and a beta of 0.71. Waste Management, Inc. has a one year low of $61.08 and a one year high of $75.28. The company has a 50 day moving average of $73.71 and a 200-day moving average of $72.29.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, analysts anticipate that Waste Management, Inc. will post $3.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Wednesday, June 7th. Waste Management’s dividend payout ratio is presently 62.04%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. KeyCorp upped their target price on shares of Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. Credit Suisse Group upped their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus upped their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Waste Management presently has an average rating of “Buy” and a consensus price target of $74.94.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the sale, the chief executive officer now owns 151,162 shares in the company, valued at approximately $10,912,384.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the sale, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,940 shares of company stock valued at $575,603. 0.19% of the stock is currently owned by company 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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