Waste Management, Inc. (WM) Stake Lowered by Bluestein R H & Co.
Bluestein R H & Co. lowered its holdings in Waste Management, Inc. (NYSE:WM) by 17.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 481,249 shares of the business services provider’s stock after selling 102,874 shares during the quarter. Waste Management comprises 2.0% of Bluestein R H & Co.’s investment portfolio, making the stock its 22nd biggest holding. Bluestein R H & Co. owned about 0.11% of Waste Management worth $35,300,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Willis Investment Counsel increased its holdings in shares of Waste Management by 682.7% in the 2nd quarter. Willis Investment Counsel now owns 107,195 shares of the business services provider’s stock valued at $7,863,000 after acquiring an additional 93,500 shares during the last quarter. Wealthfront Inc. increased its holdings in shares of Waste Management by 11.7% in the 2nd quarter. Wealthfront Inc. now owns 11,614 shares of the business services provider’s stock valued at $852,000 after acquiring an additional 1,215 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Waste Management by 1.1% in the 2nd quarter. California Public Employees Retirement System now owns 1,380,522 shares of the business services provider’s stock valued at $101,261,000 after acquiring an additional 14,800 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. increased its holdings in shares of Waste Management by 1.6% in the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 70,797 shares of the business services provider’s stock valued at $5,193,000 after acquiring an additional 1,086 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Waste Management by 67.1% in the 2nd quarter. MML Investors Services LLC now owns 73,392 shares of the business services provider’s stock valued at $5,383,000 after acquiring an additional 29,462 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
In related news, Director John C. Pope sold 453 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now owns 51,470 shares in the company, valued at $3,828,338.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick W. Gross sold 487 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of 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. 0.19% of the stock is currently owned by company insiders.
Shares of Waste Management, Inc. (WM) traded down 0.10% during mid-day trading on Friday, hitting $78.20. The company had a trading volume of 1,003,464 shares. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of 26.78 and a beta of 0.71. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $78.55. The stock’s 50-day moving average is $76.29 and its 200-day moving average is $73.93.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, September 7th. Waste Management’s payout ratio is presently 58.42%.
A number of research firms have recently commented on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a report on Friday, September 8th. Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus increased their price objective on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $76.19.
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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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