Gradient Investments LLC trimmed its position in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,326 shares of the business services provider’s stock after selling 8,871 shares during the quarter. Gradient Investments LLC’s holdings in Waste Management were worth $6,322,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new stake in Waste Management in the 1st quarter valued at $32,000. GoalVest Advisory LLC lifted its position in Waste Management by 2,030.0% in the 2nd quarter. GoalVest Advisory LLC now owns 213 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 203 shares in the last quarter. TFO TDC LLC bought a new stake in Waste Management in the 1st quarter valued at $34,000. James Reed Financial Services Inc. bought a new stake in Waste Management in the 4th quarter valued at $37,000. Finally, Riverview Trust Co bought a new stake in Waste Management in the 1st quarter valued at $41,000. 74.74% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
WM has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Waste Management from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 20th. Oppenheimer set a $160.00 price target on shares of Waste Management in a research note on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management has a consensus rating of “Hold” and an average target price of $164.86.
Waste Management Stock Down 1.0 %
Waste Management stock opened at $169.34 on Monday. The firm has a market capitalization of $69.99 billion, a PE ratio of 33.07, a P/E/G ratio of 2.51 and a beta of 0.76. The company’s 50-day moving average is $166.15 and its 200-day moving average is $159.52. Waste Management, Inc. has a fifty-two week low of $138.58 and a fifty-two week high of $175.98. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.07 and a quick ratio of 1.03.
Waste Management (NYSE:WM – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.08. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.84 billion. Waste Management had a net margin of 11.27% and a return on equity of 30.69%. Waste Management’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 5.7 earnings per share for the current year.
Waste Management Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 1.54%. Waste Management’s dividend payout ratio is presently 50.78%.
Insider Transactions at Waste Management
In other news, VP Michael J. Watson sold 8,971 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $169.83, for a total transaction of $1,523,544.93. Following the transaction, the vice president now directly owns 32,221 shares in the company, valued at approximately $5,472,092.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John C. Pope sold 219 shares of Waste Management stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $152.19, for a total transaction of $33,329.61. Following the completion of the sale, the director now owns 55,439 shares of the company’s stock, valued at approximately $8,437,261.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael J. Watson sold 8,971 shares of Waste Management stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $169.83, for a total transaction of $1,523,544.93. Following the sale, the vice president now directly owns 32,221 shares of the company’s stock, valued at approximately $5,472,092.43. The disclosure for this sale can be found here. Insiders have sold 54,067 shares of company stock worth $9,292,271 in the last ninety days. Insiders own 0.18% of the company’s stock.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
Receive News & Ratings for Waste Management Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Waste Management and related companies with MarketBeat.com’s FREE daily email newsletter.