Valeo Financial Advisors LLC Purchases New Stake in Waste Management, Inc. (WM)
Valeo Financial Advisors LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,327 shares of the business services provider’s stock, valued at approximately $299,000.
A number of other institutional investors and hedge funds have also bought and sold shares of WM. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Waste Management by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 163,299 shares of the business services provider’s stock valued at $13,283,000 after purchasing an additional 9,319 shares in the last quarter. Koch Industries Inc. increased its holdings in shares of Waste Management by 24.8% during the 1st quarter. Koch Industries Inc. now owns 9,586 shares of the business services provider’s stock valued at $806,000 after purchasing an additional 1,904 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in shares of Waste Management during the 2nd quarter valued at approximately $992,000. LSV Asset Management increased its holdings in shares of Waste Management by 1.7% during the 2nd quarter. LSV Asset Management now owns 1,271,000 shares of the business services provider’s stock valued at $103,383,000 after purchasing an additional 21,100 shares in the last quarter. Finally, Rothschild Asset Management Inc. increased its holdings in shares of Waste Management by 0.4% during the 2nd quarter. Rothschild Asset Management Inc. now owns 789,807 shares of the business services provider’s stock valued at $64,243,000 after purchasing an additional 2,904 shares in the last quarter. 74.62% of the stock is owned by institutional investors.
In other Waste Management news, Director Patrick W. Gross sold 406 shares of Waste Management stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total transaction of $33,787.32. Following the sale, the director now owns 24,149 shares of the company’s stock, valued at approximately $2,009,679.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. analysts forecast that Waste Management, Inc. will post 4.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be paid a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.86 annualized dividend and a yield of 2.02%. Waste Management’s dividend payout ratio (DPR) is presently 57.76%.
A number of equities research analysts recently issued reports on WM shares. BMO Capital Markets reissued a “buy” rating and issued a $93.00 price target on shares of Waste Management in a research note on Thursday, July 26th. Zacks Investment Research cut shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. Finally, ValuEngine cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $91.22.
Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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