Waste Management, Inc. (WM) Position Cut by Strategic Advisors LLC
Strategic Advisors LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,666 shares of the business services provider’s stock after selling 1,729 shares during the period. Waste Management makes up 1.5% of Strategic Advisors LLC’s holdings, making the stock its 21st largest position. Strategic Advisors LLC’s holdings in Waste Management were worth $3,350,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. TIAA CREF Investment Management LLC increased its holdings in shares of Waste Management by 3.9% in the second quarter. TIAA CREF Investment Management LLC now owns 2,326,501 shares of the business services provider’s stock valued at $170,649,000 after purchasing an additional 88,154 shares during the period. Teachers Advisors LLC increased its holdings in shares of Waste Management by 7.0% in the second quarter. Teachers Advisors LLC now owns 1,478,728 shares of the business services provider’s stock valued at $108,465,000 after purchasing an additional 97,275 shares during the period. WBI Investments Inc. increased its holdings in shares of Waste Management by 135.1% in the second quarter. WBI Investments Inc. now owns 187,045 shares of the business services provider’s stock valued at $13,720,000 after purchasing an additional 107,472 shares during the period. Fiera Capital Corp increased its holdings in shares of Waste Management by 35.3% in the second quarter. Fiera Capital Corp now owns 3,938 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 1,028 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Waste Management by 4.3% in the second quarter. Stephens Inc. AR now owns 152,496 shares of the business services provider’s stock valued at $11,186,000 after purchasing an additional 6,306 shares during the period. 74.99% of the stock is currently owned by institutional investors.
WM has been the topic of several analyst reports. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. raised their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $82.00 target price on shares of Waste Management in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $76.19.
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In other news, Director John C. Pope sold 453 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction on 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 $1,734,218.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Waste Management, Inc. (WM) traded up 0.21% during midday trading on Thursday, reaching $77.97. The company’s stock had a trading volume of 77,825 shares. The firm’s 50-day moving average price is $75.87 and its 200-day moving average price is $73.76. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $78.38. The stock has a market capitalization of $34.31 billion, a PE ratio of 26.70 and a beta of 0.71.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio is presently 58.42%.
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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