FTB Advisors Inc. cut its position in shares of Waste Management Inc. (NYSE:WM) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 1,995 shares of the company’s stock after selling 72 shares during the period. FTB Advisors Inc.’s holdings in Waste Management were worth $131,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Cribstone Capital Management LLC purchased a new stake in shares of Waste Management during the second quarter worth about $132,000. Financial Architects Inc increased its stake in shares of Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock worth $132,000 after buying an additional 16 shares in the last quarter. Kanaly Trust Co increased its stake in shares of Waste Management by 4.1% in the second quarter. Kanaly Trust Co now owns 2,526 shares of the company’s stock worth $167,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in shares of Waste Management during the first quarter worth about $171,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Waste Management during the second quarter worth about $208,000. Institutional investors own 75.10% of the company’s stock.
Waste Management Inc. (NYSE:WM) remained flat at $62.64 during midday trading on Tuesday. The company’s stock had a trading volume of 490,602 shares. The stock’s 50 day moving average price is $63.27 and its 200-day moving average price is $62.87. Waste Management Inc. has a 12 month low of $50.36 and a 12 month high of $70.50. The stock has a market capitalization of $27.70 billion, a P/E ratio of 24.48 and a beta of 0.62.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities research analysts forecast that Waste Management Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, September 7th. Waste Management’s dividend payout ratio (DPR) is 63.81%.
A number of brokerages have recently issued reports on WM. Imperial Capital raised their price target on shares of Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a report on Friday, July 29th. Barclays PLC downgraded shares of Waste Management from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $66.00 to $70.00 in a report on Tuesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 target price (up previously from $70.00) on shares of Waste Management in a report on Monday, July 18th. Argus reiterated a “buy” rating and issued a $72.00 target price on shares of Waste Management in a report on Wednesday, August 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Waste Management in a report on Thursday, July 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Waste Management currently has an average rating of “Hold” and an average target price of $66.77.
In related news, VP Don P. Carpenter sold 1,634 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $66.13, for a total transaction of $108,056.42. Following the completion of the transaction, the vice president now owns 19,865 shares of the company’s stock, valued at $1,313,672.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Puneet Bhasin sold 11,236 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $65.81, for a total transaction of $739,441.16. Following the transaction, the executive vice president now directly owns 44,431 shares of the company’s stock, valued at approximately $2,924,004.11. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
About Waste Management
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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