Waste Management, Inc. (WM) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC lessened its position in Waste Management, Inc. (NYSE:WM) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,775,500 shares of the business services provider’s stock after selling 81,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.86% of Waste Management worth $276,933,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of WM. Shine Investment Advisory Services Inc. purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $101,000. Northwest Investment Counselors LLC purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $103,000. Bruderman Asset Management LLC purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $110,000. Guardian Life Insurance Co. of America lifted its position in shares of Waste Management by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 14 shares in the last quarter. Finally, First Interstate Bank lifted its position in shares of Waste Management by 2.4% in the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
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Several equities research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. BMO Capital Markets assumed coverage on shares of Waste Management in a research report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target for the company. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, June 22nd. Credit Suisse Group upped their price target on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. upped their price target on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Waste Management presently has an average rating of “Hold” and a consensus target price of $76.19.
Waste Management, Inc. (NYSE:WM) traded down 0.10% during midday trading on Friday, reaching $78.20. 1,003,464 shares of the company’s stock were exchanged. The stock has a market cap of $34.41 billion, a P/E ratio of 26.78 and a beta of 0.71. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $78.55. The firm’s 50-day moving average is $76.29 and its 200 day moving average is $73.93.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Thursday, September 7th. Waste Management’s payout ratio is currently 58.42%.
In other news, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was 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 directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Waste Management Profile
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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