Chicago Capital LLC Reduces Holdings in Waste Management, Inc. (NYSE:WM)

Chicago Capital LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,665 shares of the business services provider’s stock after selling 275 shares during the period. Chicago Capital LLC’s holdings in Waste Management were worth $3,342,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. DSM Capital Partners LLC purchased a new position in Waste Management during the 4th quarter worth approximately $38,000. Capital Wealth Planning LLC acquired a new stake in Waste Management during the 4th quarter worth about $86,364,000. Dai ichi Life Insurance Company Ltd raised its stake in shares of Waste Management by 2.5% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock valued at $31,124,000 after buying an additional 4,199 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Waste Management by 18.4% in the fourth quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after buying an additional 48,549 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Waste Management during the fourth quarter valued at approximately $1,673,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 1.8 %

Shares of Waste Management stock traded down $3.67 during mid-day trading on Friday, hitting $204.73. The stock had a trading volume of 2,349,656 shares, compared to its average volume of 1,672,766. The firm has a market cap of $82.11 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a 50-day moving average of $209.43 and a two-hundred day moving average of $208.68. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 earnings per share. Sell-side analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird lowered their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price target for the company. CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.83.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.