Cetera Advisors LLC purchased a new position in Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,374 shares of the business services provider’s stock, valued at approximately $1,892,000.
Several other large investors also recently bought and sold shares of WM. Nordea Investment Management AB raised its stake in shares of Waste Management by 22.9% during the first quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock valued at $305,112,000 after acquiring an additional 547,291 shares during the last quarter. California Public Employees Retirement System raised its stake in Waste Management by 14.9% in the first quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock worth $300,717,000 after buying an additional 374,826 shares in the last quarter. Geode Capital Management LLC grew its holdings in Waste Management by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after purchasing an additional 326,408 shares during the period. Thoroughbred Financial Services LLC grew its holdings in Waste Management by 12,605.8% in the second quarter. Thoroughbred Financial Services LLC now owns 298,204 shares of the business services provider’s stock worth $29,820,000 after purchasing an additional 295,857 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Waste Management by 43.1% in the first quarter. Lazard Asset Management LLC now owns 853,443 shares of the business services provider’s stock worth $88,681,000 after purchasing an additional 257,207 shares during the period. 73.31% of the stock is currently owned by institutional investors.
NYSE:WM traded up $1.07 during trading hours on Friday, hitting $114.14. 173,052 shares of the company were exchanged, compared to its average volume of 1,608,060. The company’s 50 day moving average price is $117.85 and its 200-day moving average price is $110.50. The stock has a market capitalization of $48.23 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 3.07 and a beta of 0.61. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66. Waste Management, Inc. has a 52-week low of $83.22 and a 52-week high of $121.77.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Waste Management, Inc. will post 4.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.512 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, September 5th. Waste Management’s dividend payout ratio is presently 48.81%.
In related news, SVP Tara J. Hmmer sold 4,739 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $118.04, for a total value of $559,391.56. Following the sale, the senior vice president now owns 23,470 shares of the company’s stock, valued at $2,770,398.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 8,019 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total transaction of $957,468.60. Following the sale, the vice president now directly owns 17,254 shares in the company, valued at approximately $2,060,127.60. The disclosure for this sale can be found here. Insiders have sold 97,361 shares of company stock valued at $11,374,563 over the last 90 days. 0.14% of the stock is currently owned by company insiders.
WM has been the topic of several recent analyst reports. Macquarie restated an “outperform” rating and set a $130.00 price objective on shares of Waste Management in a research report on Wednesday, September 4th. Stifel Nicolaus lifted their price target on shares of Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, July 8th. CIBC reissued a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Scotiabank assumed coverage on shares of Waste Management in a research note on Monday, July 22nd. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 price target for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $115.25.
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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