Waste Management, Inc. (WM) Shares Sold by Balyasny Asset Management LLC
Balyasny Asset Management LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 47.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,300 shares of the business services provider’s stock after selling 11,984 shares during the period. Balyasny Asset Management LLC’s holdings in Waste Management were worth $976,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WM. Ecofin Ltd. bought a new stake in shares of Waste Management during the first quarter worth $18,520,000. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Waste Management by 75.1% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 81,772 shares of the business services provider’s stock worth $5,963,000 after buying an additional 35,078 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Waste Management by 11.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,533 shares of the business services provider’s stock worth $1,351,000 after buying an additional 1,931 shares during the last quarter. Tiedemann Wealth Management LLC bought a new stake in shares of Waste Management during the first quarter worth $222,000. Finally, First National Trust Co. grew its stake in shares of Waste Management by 101.2% during the first quarter. First National Trust Co. now owns 12,033 shares of the business services provider’s stock worth $877,000 after buying an additional 6,051 shares during the last quarter. Institutional investors and hedge funds own 74.88% of the company’s stock.
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A number of analysts have weighed in on WM shares. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. boosted their price objective on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, October 4th. KeyCorp boosted their price objective on shares of Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Waste Management in a research note on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Waste Management currently has a consensus rating of “Hold” and a consensus target price of $78.74.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.
Shares of Waste Management, Inc. (WM) opened at 77.02 on Monday. The company has a market cap of $33.89 billion, a PE ratio of 26.38 and a beta of 0.74. The company has a 50 day moving average of $77.49 and a 200 day moving average of $74.58. Waste Management, Inc. has a 52 week low of $61.59 and a 52 week high of $79.28.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. On average, analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.
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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