Concert Wealth Management Inc. lowered its position in shares of Waste Management Inc. (NYSE:WM) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,175 shares of the company’s stock after selling 77 shares during the period. Concert Wealth Management Inc.’s holdings in Waste Management were worth $541,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in WM. Ngam Advisors L.P. boosted its position in shares of Waste Management by 14.8% in the first quarter. Ngam Advisors L.P. now owns 27,245 shares of the company’s stock worth $1,608,000 after buying an additional 3,521 shares in the last quarter. Aviva PLC boosted its position in shares of Waste Management by 0.8% in the first quarter. Aviva PLC now owns 230,341 shares of the company’s stock worth $13,590,000 after buying an additional 1,844 shares in the last quarter. Associated Banc Corp boosted its position in shares of Waste Management by 0.9% in the first quarter. Associated Banc Corp now owns 81,343 shares of the company’s stock worth $4,799,000 after buying an additional 692 shares in the last quarter. Smith Moore & CO. boosted its position in shares of Waste Management by 19.6% in the first quarter. Smith Moore & CO. now owns 6,854 shares of the company’s stock worth $404,000 after buying an additional 1,125 shares in the last quarter. Finally, AMF Pensionsforsakring AB boosted its position in shares of Waste Management by 13.8% in the first quarter. AMF Pensionsforsakring AB now owns 86,741 shares of the company’s stock worth $5,118,000 after buying an additional 10,500 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.
Waste Management Inc. (NYSE:WM) traded up 0.88% during midday trading on Wednesday, hitting $62.98. The company had a trading volume of 665,023 shares. The company has a market capitalization of $27.86 billion, a P/E ratio of 24.61 and a beta of 0.62. The stock has a 50 day moving average price of $63.58 and a 200 day moving average price of $62.79. Waste Management Inc. has a 52 week low of $50.36 and a 52 week high of $70.50.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Waste Management Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.64 dividend on an annualized basis and a yield of 2.63%. Waste Management’s dividend payout ratio (DPR) is presently 63.81%.
Several equities analysts recently issued reports on WM shares. KeyCorp upgraded Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price target on the stock in a research report on Tuesday, August 9th. Wedbush restated an “outperform” rating and set a $73.00 price target on shares of Waste Management in a research report on Thursday, July 28th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, September 27th. Macquarie started coverage on Waste Management in a research report on Thursday, August 25th. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Argus restated a “buy” rating and set a $72.00 price target on shares of Waste Management in a research report on Wednesday, August 10th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $67.13.
In other Waste Management news, SVP John J. Morris sold 12,738 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $66.75, for a total transaction of $850,261.50. Following the sale, the senior vice president now directly owns 29,696 shares in the company, valued at $1,982,208. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank M. Clark sold 449 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $67.21, for a total value of $30,177.29. Following the sale, the director now owns 29,084 shares in the company, valued at $1,954,735.64. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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