Investment House LLC boosted its stake in shares of Waste Management Inc. (NYSE:WM) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 12,383 shares of the company’s stock after buying an additional 58 shares during the period. Investment House LLC’s holdings in Waste Management were worth $821,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Cribstone Capital Management LLC bought a new position in Waste Management during the second quarter valued at about $132,000. Financial Architects Inc raised its position in Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock valued at $132,000 after buying an additional 16 shares during the period. Kanaly Trust Co raised its position in Waste Management by 4.1% in the second quarter. Kanaly Trust Co now owns 2,526 shares of the company’s stock valued at $167,000 after buying an additional 100 shares during the period. Seven Eight Capital LLC bought a new position in Waste Management during the first quarter valued at about $171,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new position in Waste Management during the second quarter valued at about $208,000. Hedge funds and other institutional investors own 75.21% of the company’s stock.
Shares of Waste Management Inc. (NYSE:WM) traded up 1.23% on Wednesday, reaching $64.00. The company’s stock had a trading volume of 2,558,464 shares. The company has a market capitalization of $28.31 billion, a price-to-earnings ratio of 25.01 and a beta of 0.58. Waste Management Inc. has a 1-year low of $48.98 and a 1-year high of $70.50. The stock has a 50-day moving average price of $64.62 and a 200-day moving average price of $62.30.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business earned $0.67 EPS. Waste Management’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Waste Management Inc. will post $2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.41 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.64 annualized dividend and a yield of 2.56%. Waste Management’s dividend payout ratio (DPR) is 63.81%.
Several equities research analysts have weighed in on WM shares. Barclays PLC downgraded Waste Management from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $66.00 to $70.00 in a report on Tuesday, August 9th. Argus reissued a “buy” rating and issued a $72.00 price target on shares of Waste Management in a report on Wednesday, August 10th. KeyCorp reissued a “hold” rating on shares of Waste Management in a report on Thursday, July 14th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, June 29th. Finally, Imperial Capital raised their price target on Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a report on Friday, July 29th. Seven investment 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 an average price target of $67.34.
In other news, VP Don P. Carpenter sold 1,634 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $66.13, for a total value of $108,056.42. Following the transaction, the vice president now owns 19,865 shares in the company, valued at approximately $1,313,672.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James C. Fish, Jr. sold 7,400 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $66.59, for a total value of $492,766.00. Following the completion of the transaction, the chief financial officer now owns 99,615 shares in the company, valued at approximately $6,633,362.85. The disclosure for this sale can be found here. Company 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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